Sony Corp. on Tuesday Tokyo time reported that Sony Pictures grew its operating earnings to $230 million in the fiscal first quarter from a year-ago profit of $3 million despite nearly no theatrical revenue due to cinemas being closed amid the coronavirus pandemic.
Studios, however, have also seen lower advertising and marketing expenses due the pandemic, as showcased in NBCUniversal's latest figures last week.
That and growth in home entertainment and TV production helped Sony continue a trend of improved results for its studio arm for the first quarter.
Read more on hollywoodreporter.com
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