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.
By THE DEADLINE TEAM | Friday October 29, 2010 @ 1:46am PDT
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This article was printed from http://www.deadline.com/2010/10/sony-2q-earnings-movietv-revenues-up/
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