Sony Posts Q1 Studio Profit, Video Game Loss30 Jul, 2009 By: Erik Gruenwedel
Strong theatrical results from Angels & Demons and Terminator: Salvation contributed to Sony Pictures reporting first-quarter (ended June 30) operating income of $19 million compared to an operating loss of $87 million during the prior-year period.
Sony Pictures, which includes Sony Pictures Home Entertainment, did not disclose sales revenue for DVD/Blu-ray and digital distribution.
Revenue topped $1.77 billion, up 15% from revenue of $1.68 billion last year.
Unit sales of the PlayStation 3 video game console with a Blu-ray hard drive, declined 32% to 1.1 million units compared to 1.6 million units last year. Unit sales for PlayStation Portable plummeted 65% to 1.3 million units compared to 3.7 million units last year.
Overall video game unit sales plummeted 48% to $1.17 billion while posting an operating loss of $360 million. The company said a dearth of new game titles cooled PS3 sales.
Sony reportedly declined to comment on a highly anticipated PS3 price cuts rumored for the fourth quarter.