Sony Pictures Income Up, Sony Corp. Income Down29 Oct, 2008 By: Erik Gruenwedel
Sony Pictures' (including Sony Pictures Home Entertainment) second quarter (ended Sept. 30) operating income topped $106 million, up nearly 200% from income of $35.7 million during the previous year period.
DVD sales of 21 and Vantage Point and box office ticket sales of Hancock, Step Brothers and Pineapple Express contributed to operating revenue of nearly $1.9 billion, up 3.4% from $1.8 billion last year.
Despite an 86% increase in unit sales of PlayStation 3 to 2.43 million units from 1.31 million units last year, the games division posted a $379 million operating loss on revenue of $2.5 billion.
Overall, parent Sony Corp., citing downturns in the Japanese financial markets and other economic factors, reported a 72% decline in net income to $200 million on revenue of $19.9 billion, down 0.5% from last year.