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Sony Pictures Posts $230M Profit In First Quarter; Forecasts 40% Full-Year Drop

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Nancy Tartaglione International Box Office Editor/Senior ContributorDespite the impact of the coronavirus pandemic, Sony Pictures Entertainment continued an upward trend in first quarter results with a $230M profit for the three months ending June 30, 2020.

That compares to a $3.7M profit in the same quarter of 2019 and a $68M loss the previous year. While Sony Corp last quarter declined to reveal forecasts, today the conglomerate projected a 41B yen ($387M) full-year profit in the Pictures division, down from 68.2B yen ($643M at today’s rates) last year.

It noted the negative impact on financial results due to delays in theatrical releases will be felt over two to three years.

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