Sony Pictures’ Q2 Profit Dips To $202M; Full-Year Forecast Increases
deadline.comRefresh for latest…: Sony Pictures Entertainment recorded $202 million in operating profit for the three months ended September 30, repping a 30% dip from the comparable period last year.
The company said Q2 profits were affected by the absence of new films licensed to digital streaming services and an increase in marketing costs to support current year theatrical releases.
Similar to the same 2021 frame, revenues in the division were up, however. This time by 3% to $2.44 billion on a dollar basis (numbers have been greatly impacted by exchange rates amid a strong dollar and a plummeting yen).
SPE had a more significant roster of movies released in the past quarter versus Q2 2021, including sleeper hit Where the Crawdads Sing which has grossed $132 million globally, Brad Pitt-starrer Bullet Train ($233 million worldwide) and critically acclaimed historic action drama The Woman King ($44 million).
Read more on deadline.com
