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Sony Pictures Profits Exceed $1.3 Billion in Latest Quarter

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variety.com

Patrick Frater Asia Bureau ChiefSony’s pictures division achieved net profits of $1.3 billion in the three months to December 2021, boosted by a return to theatrical releasing and the blockbuster performance of “Spider-Man: No Way Home.” The $1.31 billion figure compares with profits of $194 million in the equivalent quarter of 2020, and with profits of $288 million in the preceding three months to end of September 2021.Parent company, Sony Group’s net profits grew by 20% in the three months to December 2021 hitting JPY461 billion.

Sales were up by 13% to JPY3.03 trillion.The bumper results, unusually, made the pictures division the largest contributor to Sony’s consolidated net profits.

The pictures division includes the movie studios, television production and TV network operations. Games and network services increased its year-on-year profitability in the quarter to JPY92.9 billion, up from JPY80.8 billion.

Music sector net profits slipped from JPY59.1 billion to JPY55.1 billion in the latest quarter.Behind pictures and games, the electronics division chipped in a sharply lower net contribution of JPY80 billion.

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