Sony Posts Better Than Expected Q2 Earnings, Profit
Sony Pictures division reported income of $209 million during the three-month period
Trey Williams | October 29, 2018 @ 11:42 PM
Last Updated: October 30, 2018 @ 12:41 AM
TheWrap
On Tuesday, Sony Corp. reported earnings and revenue for the second quarter above Wall Street expectations, with the media, technology and entertainment company’s film division earning $209 million during the three-month period.
The Japan-based parent company reported earnings per share of $1.20, according to the company’s quarterly earnings report. That was above the 91 cents per share earnings one analyst via Yahoo Finance expected, and better than the 93 cents per share the company reported during the same quarter a year ago.
Revenue during the quarter was $19.6 billion, up compared to $18.6 billion a year ago and above the $19.1 billion analysts forecast.
The company’s Sony Pictures division, which includes the motion pictures business, as well as TV production and media networks, posted a profit after reporting a loss of $68 million in its three months ending June 30.
Sony said that the company’s pictures division saw a year-over-year decline in revenue because of a decrease in worldwide theatrical revenues due to the strong performance of “Spider-Man: Homecoming” during the second quarter last year. That, however, was partially offset by higher TV licensing revenues for titles that were released in 2017, notably “Jumanji: Welcome to the Jungle” and “Peter Rabbit.”
The company expects full-year revenue for the motion pictures group to be higher-than-expected thanks to strong theatrical performances of titles released in the current fiscal year.
The music division saw profits slip slightly to $279.5 million from $288.5 million during the same quarter a year ago. Sony said music revenues fell year-over-year due to a decrease in physical and digital download revenues, which were partially offset by an increase in streaming revenues.
The gaming and network services arm nearly doubled earnings, making $804 million compared to $485.8 million in the second quarter. Game software sales, which include those for the company’s popular PlayStation 4 console, increased during the quarter, and Sony said it expects that trend to continue through the full fiscal year, along with an increase in PS4 unit sales and an increase in sales of its paid membership service PlayStation Plus.
10 Worst Reviewed Films on Rotten Tomatoes, From 'Ridiculous 6' to 'Gotti' (Photos)
"Gotti" made headlines this year when it got a zero percent score on Rotten Tomatoes -- but there are worse films out there. Click through TheWrap's gallery of worst reviewed films of all time on RT, ranked by number of reviews.
Sony
"Ballistic: Ecks vs. Sever" (2002)
# of Reviews: 117
Tomatometer: 0
Cast: Antonio Banderas, Lucy Liu
What It's About: An FBI agent and a rogue DIA agent are tasked to kill each other, but they soon realize they aren't each other's biggest enemy.
What Critics Said: AV Club's Keith Phipps said it "looks like a video-game promo," while Associated Press' Jocelyn Noveck asked, "Why am I sitting here, anyway?"
Warner Bros.
"One Missed Call" (2008)
# of Reviews: 80
Tomatometer: 0
Cast: Shannyn Sossamon, Edwards Burns
What It's About: People start receiving calls from their future selves -- with details of their deaths.
What Critics Said: Atlanta Journal-Constitution's Bob Longino said the film was "one big miss of a horror movie," while Toronto Star's Philip Marchand said the best part about the movie is that it is "mercifully short."
Warner Bros.
"A Thousand Words" (2012)
# of Reviews: 56
Tomatometer: 0
Cast: Eddie Murphy, Kerry Washington, Allison Janney
What It's About: A literary agent finds a Bodhi tree on his property which is shaped by the consequences of every word he speaks.
What Critics Said: We Got This Covered critic Kristal Cooper simply wrote, "Try two words: stay away." Meanwhile The National's James Luxford wrote, "a poorly conceived and startling miscast comedy."
Paramount Pictures
"Pinocchio" (2002)
# of Reviews: 54
Tomatometer: 0
Cast: Roberto Benigni, Nicoletta Braschi
What It's About: A wooden puppet disregards advice from the Blue Fairy and his father and goes on one adventure after another.
What Critics Said: Chicago Reader's Jonathan Rosenbaum said the film was "truly awful," while L.A. Weekly's Dan Fienberg said, "Visually sumptuous but intellectually stultifying."
Miramax
"Superbabies: Baby Geniuses 2" (2004)
# of Reviews: 45
Tomatometer: 0
Cast: Jon Voight, Scott Baio
What It's About: Media moguls try to crack the code to baby talk, while the babies of the world try to stop them.
What Critics Said: The Wall Street Journal's Joanne Kaufman wrote, "unspeakably ghastly," while Chicago Reader's J. R. Jones simply said "excruciating."
Triumph Films
"Gotti" (2018)
# of Reviews: 44
Tomatometer: 0
Cast: John Travolta, Kelly Preston
What It's About: It's the story about crime boss John Gotti and his son.
What Critics Said: New York Post's Johnny Oleksinski wrote bluntly: "I'd rather wake up next to a severed horse head than ever watch 'Gotti' again."
Vertical Entertainment
"National Lampoon's Gold Diggers" (2004)
# of Reviews: 44
Tomatometer: 0
Cast: Will Friedle, Chris Owen
What It's About: Two losers marry two elderly sisters, hoping they'll inherit their fortune.
What Critics Said: Washington Post's Jen Chaney said the film was "stupefyingly hideous," while Seattle Times' Erik Lundegaard begged people to not "waste your money."
P& Releasing
"Bucky Larson: Born to Be a Star" (2011)
# of Reviews: 35
Tomatometer: 0
Cast: Nick Swardson, Christina Ricci
What It's About: A kid from the midwest moves to Hollywood to become a porn star.
What Critics Said: Time Out's Matt Singer described the film as "dire" and "soul-crushing," while Newsday's Rafer Guzman said it was "icky and repellent."
Columbia Pictures
"The Ridiculous 6" (2015)
# of Reviews: 35
Tomatometer: 0
Cast: Adam Sandler, Taylor Lautner, Rob Schneider
What It's About: When an outlaw raised by Native Americans realizes he has five half-brothers, they all band together to find their dad.
What Critics Said: "Thanks for nothing, Netflix," is what Chicago Sun-Times critic Richard Roeper wrote. TheWrap's own Debbie Day added that the film is "everything wrong with Hollywood for the past two decades."
Netflix
"Dark Crimes" (2018)
# of Reviews: 34
Tomatometer: 0
Cast: Jim Carrey, Martin Csokas, Charlotte Gainsbourg
What It's About: Clues to a murder of a businessman are laid out in a book about a similar crime.
What Critics Said: New York Post's Johnny Oleksinski said "that this exercise in vulgarity was made at all is shameful," while Chicago Sun-Times' Richard Roeper said the film "leaves a sour taste."
Saban Films
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Which movie is the worst-reviewed of all time?
"Gotti" made headlines this year when it got a zero percent score on Rotten Tomatoes -- but there are worse films out there. Click through TheWrap's gallery of worst reviewed films of all time on RT, ranked by number of reviews.
Sony
Warner Bros.
