Homecoming,’ PlayStation 4 Carry Sony to Monster Q2


PlayStation 4 games, big screen TVs and a Marvel superhero movie lifted entertainment and tech powerhouse Sony to a mbadive second quarter.

Late Monday Los Angeles time, Sony reported revenue of $18.2 billion and earnings of 92 cents a share for the three months ending September 30, which the company clbadifies as its fiscal second quarter. That was well ahead of the $16.7 billion in revenue and earnings of 4 cents a share Sony hauled in during the same period last year. Analysts had estimated the company would report $17.6 billion in revenue and earnings of 54 cents a share.

Sony’s video games division, whose operating income grew 188 percent year-over-year behind a surge in PlayStation 4 software sales, and home entertainment, which reported a 39 percent gain in operating income, led the way for the Japanese conglomerate. The company credited a shift in the product line of TVs to higher-value models for the improved performance of the home entertainment segment.

Also Read: Hulu CEO Mike Hopkins Jumps to Become Sony Pictures TV Chairman

And one quarter after Sony’s pictures division finished in the red — and despite a slow summer box office in general — the studio bounced back behind “Spider-Man: Homecoming,” which went on to gross nearly $880 million worldwide after its July 7 release, and “Baby Driver,” another successful mid-year flick. The division earned $68 million in operating income, a 140 percent jump compared with the corresponding quarter last year.

However, Sony did lose its slate financing arrangement with Texas-based LStar Capital earlier this summer, as TheWrap exclusively reported. And even with the blowout success of “Spider-Man: Homecoming,” Sony currently ranks fifth out of all studios with 9.4 percent market share.

There have also been changes in its TV business. After losing Sony Pictures Television Presidents Jamie Erlicht and Zack Van Amburg to Apple in July, the studio tapped former Hulu CEO Mike Hopkins to become its TV chairman earlier this month. And also this past quarter, Sony picked up a majority stake in anime distributor Funimation in a deal that valued the company at about $150 million and gives Sony some of the genre’s most popular titles, including “Dragon Ball Z”, “Cowboy Bebop” and “My Hero Academia.”

Sony’s stock has dipped 5 percent over the last three months but remains up 39 percent year-to-date.

The Sony Hack’s Key Players: Where Are They Now? (Photos)

  • Amy Pascal sony
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  • Sony Pictures Entertainment CEO Michael Lynton
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  • Tom Rothman (Sony)
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  • Steve Mosko

    Steve Mosko
    Mosko served as the Head of Television Division of Sony Pictures Entertainment from 2001 until October 2015, when he was made Chairman of Sony Pictures Television — until he announced he was stepping down in June 2016.

    Also Read: Sony TV Promotes Steve Mosko to Chairman

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  • Scott Rudin egot
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  • Clint Culpepper
    Screen Gems’ president called Kevin Hart a “whore” in an email to a colleague after the actor sought an increase in salary for his personal promotions.

    Hart responded, “I worked very hard to get where I am today. I look at myself as a brand and because of that I will never allow myself to be taken advantage of.” Culpepper is still president of the production company.

    Also Read: Sony Leak: 28 Lies Hollywood Agents Tell Studio Executives About Their Actor Clients

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  • jolie
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  • Leonardo Dicaprio
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  • the interview live twitter james franco seth rogen

    Seth Rogen and James Franco
    The hack revealed that Rogen made $8.4 million for co-directing and acting in “The Interview,” while co-star Franco received $6.5 million. The film’s overall budget was $44 million and included $241 for a “table of weed, coke, pills and panties,” as well as $74,000 for two tigers, their handlers, and special “tiger accommodations.”

    Rogen recently starred in “Steve Jobs” and has six more projects lined up, including “Neighbors 2.” Franco also has multiple projects in the queue, including directing “The Long Home.”

    Also Read: Sony to Release ‘The Interview’ in Theaters, on VOD Despite Threats (Exclusive)

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  • David Fincher Star Wars

    David Fincher
    In an email with the subject line “Well it ain’t ME,” the director who almost directed “Steve Jobs” blames the studio for the many leaks on that film — compared to the more tight-lipped studios like Fox, with whom he worked on “Gone Girl.”

    “I had 15 meetings with Rosamund Pike [for “Gone Girl”] and her DEAL CLOSED before Variety OR The [Hollywood] Reporter ever ran a single blurb,” he said. “This is a CONTINUAL PROBLEM WITH SONY.” Since then, Fincher has focused on producing Netflix’s “House of Cards.”

    Also Read: Steve Jobs Biopic: David Fincher Not in Talks to Direct, But He’s Taking the Meeting

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  • Michael De Luca (Kevin Winter/Getty Images)

    Michael de Luca

    The president of production at Sony, proved true all the gossip that surrounded his taking the studio job. The “Fifty Shades of Grey” producer left Sony in April 2015 shortly after Tom Rothman’s promotion and took a producing deal with Universal.

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  • Michael Fbadbender Snowman Cannes
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What has become of Amy Pascal, Michael Lynton, Mike de Luca and Tom Rothman since the November 2014 Sony cyberattack?

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