Sony delivered a gloomy report as it reeled from problems that ranged from surprisingly low sales of TV sets to floods in Thailand. For the quarter that ended in September, the fiscal 2Q, Sony had a net loss of $350M on sales of $20.5B. But it also slashed its projection for fiscal-year results to a $1.2B loss from a $769M profit. Sony Pictures delivered operating income of $268M, up from a $61.6M loss in the quarter last year, on revenues of $2.2B, up 17%. But that includes $278M from the sale of Spider-Man merchandising rights, as well as strong results for The Smurfs. Overall, the company says that theatrical was a drag on the higher sales of TV shows and home entertainment. The music unit sang a different tune, with operating income down 21.9% to $82M on sales of $1.3B, down 6.6%. The company attributes that to the appreciation of the yen, and lower album sales outside of the U.S.
Sony Pictures Swings To Profit In 2Q While Parent Company Forecasts $1.2B FY Loss
What's Hot on Deadline
Matt Groening Netflix Animated Comedy A Go With 20-Episode Order, Abbi Jacobson, Nat Faxon & Eric Andre Lead Voice Cast
David Letterman Talks The Changing Late-Night Landscape, His Talk Show Return On 'Norm Macdonald Live'
Latest Film News
- ‘Wonder Woman 2’ Gets 2019 Release Date
- ‘Bloodline’ Actor Owen Teague Joins YA Romance ‘Every Day’
- Jared Leto In Talks For ‘Bloodshot’ At Sony
- Ric Roman Waugh Nears Deal To Direct ‘Angel Has Fallen’, Next Installment Of The ‘Olympus Has…
- ‘Atomic Blonde’ Review: Charlize Theron Kicks Ass, But Spy Action Thriller Has More Fight Than Bite
- Fox, 21 Laps Land Colm McCarthy For Coast Guard Thriller