NutzWorld SportzNutz EntertainmentNutz ComputerNutz GamezNutz TinyStart InfoTiki News

Sony Pictures Entertainment Q1 Profit Dips 6% To $232M; Corp’s Overall Operating Income Jumps 26%

For the three months ended June 30, 2021, Sony Pictures Entertainment posted profits of $232 million, a 6% decrease versus the same period last year on a local currency basis (27 billion yen to 25.4 billion yen). Revenue was up 15% on a U.S. dollar basis to $1.87 billion.

Films in theatrical release during fiscal Q1 included Screen Gems’ The Unholy and animated sequel Peter Rabbit 2: The Runaway. The latter has grossed $151.5 million worldwide thus far ($114 million during the quarter) with Korea and Brazil still to come.

Sony said sales grew for motion pictures while television licensing revenue also increased. There was, however, a decrease in home entertainment sales given scant theatrical releases in 2020. Profits were impacted by the above as well as higher TV production costs.

%d bloggers like this: