Sony Pictures Profits Rise Thanks to ‘Spider-Man 2′ and ’22 Jump Street’

906429 - The Amazing Spider-Man 2

Big-time sequels gave the division a boost, but the company still projects yearly losses

Though it is the least successful movie in the franchise, “The Amazing Spider-Man 2″ and its $706 million worldwide box office helped Sony Pictures make a $76 million operating profit in the April-June period, the company reported on Thursday.

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The webslinger was assisted by fellow sequel “22 Jump Street,” which took in $279 million worldwide, giving Sony $1.98 billion in sales for the quarter.

The quarter marked a vast improvement over 2013’s April-June period, when the Will Smith bomb “After Earth” dragged Sony down to just a $37 million operating profit and $1.58 billion in sales.

Also read: Jeff Blake’s Departure at Sony Leaves Amy Pascal With No One Else to Blame

Overall, the Japanese electronics giant created $261 million net income, with $17.9 billion in total sales and $69.8 operating profit. That said, it predicted a yearly loss of $488 million, thanks in part to a decline in mobile device sales. They slashed expectations in that department, from a projected 50 million units sold to 43 million.