Sony Pictures Posts $86 Million Quarterly Loss, Not Even Spider-Man Could Boost Revenue

Tom Holland
It’s the most badly run studio in Hollywood, mainly because most decisions are made in Tokyo.   Sony Pictures posted a loss of $86 million for the April to June quarter, compared to a $103 million loss in the same period last year. sony-lossSales were up 12.3 percent, helped by higher television production sales, offset by lower theatrical revenue along with advertising costs for Spider-Man: Homecoming.


The success of Spider-Man: Homecoming did not boost the quarterly figures as it was released in July, just after the company’s fiscal first quarter finished.


Sony forecasts full-year sales for the film division of ¥1,020 billion ($9.25 billion at current exchange rates) and operating profit of ¥39 billion  ($354million).


Sony Corp. posted group-wide net income of $722 million (¥80.9 billion), up 282 percent over the same quarter last year.

Written By: Tommy Lightfoot Garrett
Photographs are Courtesy: Sony
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