‘Ghostbusters,’ ‘Sausage Party,’ ‘The Get Down’ Credited for Sony Pictures’ Q2 Operating Profit

“Don’t Breathe” and “The Crown” also played key roles

Last Updated: November 1, 2016 @ 10:01 AM

Sony Pictures saw its fiscal second-quarter 2016 revenue grow versus last year — plus, the segment recorded an actual operating profit this time.

That mini-achievement is thanks to the box office performance of “Ghostbusters,” “Sausage Party” and “Don’t Breathe,” Sony Corp. said Tuesday in an early morning media release. “The Crown” and “The Get Down” helped out on the small-screen.

A lone Yahoo Finance-surveyed media analyst had forecast an overall Sony Corp loss per share of 7 cents on $16.9 billion in revenue. Instead, Sony made 4 cents per share on $16.7 billion in revenue, when yen was converted to U.S. dollars.

That doesn’t mean it’s all good news, however.

Overall, company sales decreased 10.8 percent year over year, mainly due to foreign exchange rates. Also, Sony’s overall profit plummeted almost 86 percent.

Mobile Communications was the big loser in revenue, slipping nearly 40 percent due to slower smartphone sales. However, the unit was actually profitable for the quarter, thanks to its lowered costs.

Sony’s Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Semiconductors, and Components also saw their revenues fall as well.

Pictures, Music and Financial Services all grew at their respective top lines, though financial services sunk in operating income.

The company’s gaming arm suffered due to a PlayStation 4 price drop, and its Semiconductors was hurt by earthquakes in the Kumamoto region of Japan. Meanwhile, Components got crushed by a planned transfer of its battery business.