Sony Pictures Ups Q4 Operating Income $62.5 Million28 Apr, 2016 By: Erik Gruenwedel
Sony Pictures, which includes Sony Pictures Television and media networks, April 28 reported a 6.8 billion yen ($62.5 million) fourth-quarter (ended March 31) increase in operating income to 52.3 billion yen ($481 million) on revenue of 320.7 billion yen ($2.9 billion).
For the fiscal year, revenue increased 6.8% to 938 billion yen ($8.3 billion). Operating income dropped 20 billion yen ($184 million) to 38.5 billion yen ($341 million).
The decrease in motion pictures revenue was primarily due the underperformance of The Walk and The Brothers Grimsby, and to a decrease in home entertainment revenue when compared with year-over-year home entertainment performances of The Amazing Spider-Man 2, 22 Jump Street and Heaven Is for Real.
Partially offsetting the decrease in home entertainment revenue was higher theatrical revenue in the current fiscal year, led by the strong box office of Spectre and Hotel Transylvania 2.
The increase in television productions revenue was primarily due to higher subscription video-on-demand license fees for “Breaking Bad,” “The Blacklist” and “Better Call Saul.”