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Sony Pictures Entertainment Records $179M Q3 Profit; Corporation Names Hiroki Totoki Group President

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deadline.com

Refresh for latest…: Sony Pictures Entertainment recorded $179 million in operating income for the third quarter ending December 31, 2022.

That figure reps an 86% decrease on a dollar basis versus the same period last year, though it’s tough to compare apples to apples here since Q3 2021 had a massive assist from the phenomenal global box office performance of Spider-Man: No Way Home along with the success of Venom: Let There Be Carnage.

Meanwhile, the current quarter felt the absence of a gain from the transfer of GSN Games business in Q3 2021. Also cited as culprits for the swing were lower revenues for television productions versus Q3 2021 which benefited from the licensing of Seinfeld.

The full-year forecast for the segment remains unchanged from Sony’s last earnings report, with 115 billion yen ($893.7 million) in profits expected for fiscal year 2023.

Read more on deadline.com
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