Sony’s film unit suffered a loss of $187 million in the second quarter of 2015, according to a financial report released early Thursday.
Sales have decreased 14 percent year-over-year on dollar basis to $531 million, mainly due to lower home entertainment revenue.
Overall, however, Sony Corp. is reporting a net profit of $280 million for the three months to Sept. 30, despite the film unit losses.
According to the financial documents, Sony Pictures’ operating loss increased to 21.4 billion yen year-on-year to 22.5 billion yen ($187 million).
The same quarter of the previous fiscal year benefitted from the home entertainment boost of “The Amazing Spider-Man 2” and “Heaven is for Real,” along with lower television licensing revenues.
The company also blamed the divisional losses on the revenue shortfall and “higher worldwide theatrical marketing expenses.
“This deterioration in operating results was primarily due to the impact of the decrease in Motion Pictures sales as well as higher worldwide theatrical marketing expenses due to a greater number of significant theatrical releases in the current quarter as compared to the same quarter of the previous fiscal year,” the filing stated.
The Pictures segment of Sony Corp. is comprised of the Motion Pictures, Television Productions, and Media Networks categories.
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