A 6.1% increase in sales in its movie division helped Sony’s net profit power back in the company’s 2nd quarter compared to a loss same time last year. Salt, Grown Ups, The Karate Kid and The Other Guys were solid performers. Television revenues also increased due to higher advertising and subscription revenues from international channels. The company reported an overall profit of $375 million, compared with a $326 million loss in the same quarter of 2009. On the gaming side, Playstation performed well as did computer units. In the past year, Sony has cut thousands of jobs and has had to revise its outlook for 2010 in order to address the slow economy, the dollar’s declining value and increased competition.
Sony Profits Rise With Help From Film, TV
By THE DEADLINE TEAM | Friday October 29, 2010 @ 1:46am PDT
This article was printed from http://www.deadline.com/2010/10/sony-2q-earnings-movietv-revenues-up/
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Loading ...By The Numbers - FILMS/TV/CABLE
Title Studio Gross 1 Star Trek Into ... PAR $70.2M 2 Iron Man 3 DIS $35.8M 3 The Great Gatsby WB $23.9M 4 Pain And Gain PAR $3.2M 5 The Croods FOX $3.0M 6 42 WB $2.8M 7 Oblivion UNI $2.3M 8 Mud RSA $2.2M 9 ... Peeples LG $2.2M 10 The Big Wedding LG $1.2M SOURCE: RENTRAKBox Office Poll
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The only decent movie they had out this quarter was Salt and the ending was a let down…
How does a $58 million loss equate to increased profits for Sony Pictures?
$58 million dollar loss? Where? It made near $300m on a $110m budget. If it’s not in the black now it certainly will be on DVD.
It would be hard for Sony TV to show a loss on paper this year. They dropped almost all of their big-ticket pod deals and axed dozens of employees, including senior executives. Spending less isn’t the same as making money.
Look at the budgets of their films this year and then look the revenues… Makes sense to me.