Sony Pictures Entertainment Sees Profits Increase To $204M In Second Quarter
deadline.comRefresh for latest…: Sony Pictures Entertainment saw a 1% gain in profits for the quarter ended September 30 versus the similar period last year.
Coming in at $204 million, operating income was also 77% above the first quarter of 2023. Second quarter profits in the division were boosted by an increase in sales which saw a 13.4% hike versus Q2 2022 to $2.767 billion, derived from an increase in series deliveries.
On the flip side, there were lower revenues from television and digital streaming service licensing given last year’s comparable quarter benefitted from the contribution of several franchise films released theatrically in 2021.
Adjusted OIBDA (Operating Income Before Depreciation and Amortization) for the Pictures segment was even at $293 million. Movies released in the quarter ended September 30 include Insidious: The Red Door ($188 million worldwide), The Equalizer 3 ($157 million worldwide), Gran Truismo: Based on a True Story ($114 million global) and Dumb Money ($6 million domestic).
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