{"id":127125,"date":"2022-05-10T08:30:46","date_gmt":"2022-05-10T08:30:46","guid":{"rendered":"https:\/\/fin2me.com\/?p=127125"},"modified":"2022-05-10T08:30:46","modified_gmt":"2022-05-10T08:30:46","slug":"sony-pictures-full-year-profit-swings-to-1-67b","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/sony-pictures-full-year-profit-swings-to-1-67b\/","title":{"rendered":"Sony Pictures Full-Year Profit Swings To $1.67B"},"content":{"rendered":"<p><strong><em>Refresh for latest<\/em>&#8230;:<\/strong> For the fiscal year ended March 31, 2022, Sony Pictures Entertainment saw a 172% increase in operating income to 217.4 billion yen ($1.67 billion). Revenues hit 1,239 billion yen ($9.5 billion), up 55% versus the previous year.<\/p>\n<p>The significant jumps were primarily due to higher sales in all categories, with Motion Pictures getting a big boost from <em>Spider-Man: No Way Home<\/em> which grossed $1.893 billion global through the end of March. It is the No. 6 movie ever at the worldwide box office.<\/p>\n<p>Sony also cited higher licensing revenues from digital streaming services for new film titles and higher licensing revenues for catalog product. Operating income further saw a hike due to the recording of a 70 billion yen ($537 million) gain from the transfer of GSN Games, a division of Game Show Network, partially offset by the impact of higher marketing expenses for theatrical releases in the Motion Pictures segment.<\/p>\n<p>Note that Sony also provides aggregated dollar results for SPE, which are not reflected in its consolidated financial statements and are not measured in accordance with international financial reporting standards. When looking at those numbers, SPE&rsquo;s operating income was $1.935 billion for the year, up 156% on the previous term. <\/p>\n<p>In forecasting the 2022 fiscal year through March 31, 2023 from Tokyo today, Sony Corp said sales for Sony Pictures Entertainment are expected to increase 7% on a yen basis. However, the conglomerate is projecting a more than 50% drop in operating income for the division. This is explained by an expected decrease in sales for Motion Pictures as well as the absence of the 70 billion gain from the transfer of GSN Games as included in the 2021 figures.<\/p>\n<p>Fourth-quarter sales in the Pictures segment were 312.2 billion yen ($2.4 billion) with operating income at 11 billion yen ($84.4 million). The latter was up significantly after a loss in the similar period last year. <\/p>\n<p>Overall Sony Corp said revenue was up 10% to 9.92 trillion yen ($76 billion). Operating income saw a jump of 26% on a yen basis to 1.2 trillion yen ($9.2 billion), while net income was down 14%. The increases were largely attributed to the Pictures, Electronics Products &amp; Services and Music segments. <\/p>\n<p>Fourth quarter operating profit at the corporation more than doubled, jumping to 138.6 billion yen ($1.06 billion), compared to a profit of 66.4 billion ($509 million) in the same period a year ago.<\/p>\n<p>Forecasting full-year results for the coming 12 months, Sony expects sales to increase 15% but is looking at a 6% decrease in net income.<\/p>\n<p>MORE&hellip;<\/p>\n<h2>Must Read Stories<\/h2>\n<h3>&#8216;Jack Ryan&#8217; To End With Season 4; Amazon Eyeing Spinoff Headlined By Michael Pe\u00f1a<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2022\/05\/Jack-Ryan-Michael-PEna.jpg\"><\/p>\n<h3>Halle Berry &#038; Jodie Comer Pics To Cannes Market; Helmer For \u2018Dirty Dancing\u2019 Sequel<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2022\/05\/Dirty-Dancing-sequel.jpg\"><\/p>\n<h3>$450M Global Start Is 2nd-Best For MPA Title In Covid Era; $187M Domestic<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2022\/05\/ds2.jpg\"><\/p>\n<h3>Return-To-Office Mandate Sparks Culture Clash At Merged Warner Bros Discovery<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2022\/05\/Warner-Bros-Discovery-pre-merger-CAROUSEL-ONLY.jpg\"><\/p>\n<h2>Read More About:<\/h2>\n<p>Source: <a href=\"https:\/\/deadline.com\/2022\/05\/sony-pictures-earnings-full-year-2021-fourth-quarter-spider-man-1235020116\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Refresh for latest&#8230;: For the fiscal year ended March 31, 2022, Sony Pictures Entertainment saw a 172% increase in operating income to 217.4 billion yen [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":127124,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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