Spider-Man Box Office Success Helps Lift Sony Profit 44%

Sony’s net profit rose 44% in its July–September quarter, with the box-office success of “Spider-Man: Brand New Day” helping lift results at the Japanese entertainment company, the Associated Press reported Thursday.
Sony reported net profit of 449.6 billion yen (about $2.8 billion), compared with nearly 311 billion yen a year earlier. Quarterly sales increased 10% to 3.4 trillion yen, according to the company’s results cited by AP.
The film was one contributor to a stronger quarter across Sony’s pictures, music and games operations. The company also said PlayStation 5 demand remained supportive, though it sold 2.6 million consoles in the quarter, down from 4 million in the same period a year ago.
Reuters separately reported a 45% rise in Sony’s second-quarter operating profit, citing stronger performance in its movie and games units. The two outlets report different profit measures: AP’s 44% figure refers to net profit, while Reuters’ 45% figure refers to operating profit.
Sony raised its full-year profit forecast to 1.3 trillion yen from 1.2 trillion yen, AP reported. The results show how a successful theatrical release can contribute to a company whose entertainment business also spans music, games and television.
Sources: Associated Press; Reuters.