The parent company, Japanese electronics and entertainment conglomerate Sony, earned profits of $2.08 billion on revenues of $17.9 billion in the April-to-June quarter.
In early May, for the financial year running from April 2017 to March 2018, Sony announced net profits of $3.42 billion (JPY379 billion) from revenues of $77.0 billion (JPY8.54 trillion).
Sony said the picture division’s $257 million drop in revenue in the April-to-June quarter – a 14% slide – reflected lower licensing revenues and lower advertising revenues at its channels business. The smaller loss than last year reflected decreased theatrical advertising costs and strong home entertainment performance of “Jumanji: Welcome to the Jungle.”
In the quarter,