Sony Pictures Entertainment Posts Strong Q1 Revenue And Profit Growth Despite Fewer Film Releases
deadline.comSony Pictures Entertainment has posted operating income of $381M (50.7BN yen) for the first quarter of this year, up 25.3% on the $232M posted in the same period last year on a currency basis.
Revenues grew even more significantly: up a whopping 136.6% to $2.58BN (341.4BN yen), compared with last year’s $1.87BN. The numbers were significantly impacted by by local currency movements, with the U.S.
dollar in a position of strength as the yen dwindles. Sony noted there had been an increase in series deliveries, higher TV licensing and home entertainment revenues during the April-June period, plus higher sales of streaming services, which included the impact of buying anime streamer Crunchyroll.
It’s a great result for Sony, considering it has been a quiet quarter movie-wise, with Mobius being the only release of note during the period.
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