Sony Corporation’s profits tripled in the first quarter but the motion pictures division suffered a $96 million loss, according to the company’s latest earnings report.
From April to June 30, the company had unchanged revenues of $14.8 billion (JPY1.81 trillion) and net profits of $676 million (JPY70.5 billion), according a financial statement released by Sony.
The motion pictures segment, which includes Sony Pictures Entertainment, TV productions and media networks, saw a 12 percent drop in revenue to $1.41 billion (JPY171 billion). Operating income dropped year over year from $78 million in profit to a loss of $96 million.
Last year, the studio released blockbusters such as “The Amazing Spider-Man 2” and “22 Jump Street,” whereas this year’s first quarter followed the studio’s hacking crisis with “The Interview.”
TV licensing in 2014 also saw strong sales from “Cloudy With A Chance of Meatballs” and “Captain Phillips.”
Operating income for the corporation as a whole rose 39 percent to $794 million, while sales were almost flat at $14.8 billion.