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Sony Q1 Earnings Triple as Movies Division Retreats Into Loss
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30.07.2015
Profits tripled in the first quarter at Japanese electronics and entertainment giant Sony. But the motion pictures division moved into loss.
In the April to June period the company enjoyed unchanged revenues of US$14.8 billion (JPY1.81 trillion) and net profits of US$676 million (JPY70.5 billion).
Sony’s “pictures” business segment which spans Sony Pictures Entertainment, TV productions and media networks, saw a 12% drop in sales to $1.41 billion (JPY171 billion) and the division move from profits of JPY 7.8 billion to losses of US$96 million (JPY 11.7 billion.)
In the April to June period the company enjoyed unchanged revenues of US$14.8 billion (JPY1.81 trillion) and net profits of US$676 million (JPY70.5 billion).
Sony’s “pictures” business segment which spans Sony Pictures Entertainment, TV productions and media networks, saw a 12% drop in sales to $1.41 billion (JPY171 billion) and the division move from profits of JPY 7.8 billion to losses of US$96 million (JPY 11.7 billion.)
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