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“Spider-Man”, ‘Hollywood’ swing sony pictures to $366M quarterly profit

Sony Pictures Entertainment has posted a 73% jump in profits for the second quarter, snaring $366M during the July-September period. This is the third straight Q2 to see significant increases in the film segment, and is largely attributable to Marvel sequel Spider-Man: Far From Home and Quentin Tarantino’s Once Upon A Time In Hollywood.

The friendly neighborhood arachnid become Sony Pictures’ highest-grossing global release ever this summer, having caught $1.3B at the worldwide box office. Hollywood has also contributing muscle to the period with $370M global to date.

From Tokyo today, Sony Corp overall reported a 16% hike in earnings versus the comparable 2018 frame. This is a new Q2 record for the entertainment and electronics giant with operating income rising to 279B yen ($2.6B) for the three months ended September 30. Increases were cited in the Imaging, Electronics, Music and Film divisions.

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