Sony Pictures Quarterly Profit Slips to $200M

The earnings picture for the Japanese entertainment conglomerate was muddied by the recent, historic devaluation of the yen against the U.S. dollar.

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When calculated in U.S. dollar terms, Sony Pictures’ quarterly revenue was only up 3 percent compared to the same period in 2021, while profit slid 30 percent. Sony Corp. reported July-to-September earnings Thursday at its headquarters in Tokyo. The Japanese company attributed the revenue gains at Sony Pictures to both increased box office sales for theatrical releases and a boost in television licensing sales. Higher revenue from the company’s recently acquired anime streamer Crunchyroll also drove gains.

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