Sony Pictures Swings to Quarterly Profit of $3.7 Million

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Sony Pictures Swings to Quarterly Profit of $3.7 Million
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Overall profits at Sony Corp. fell 33 percent to $1.38 billion.

Sony Pictures posted a profit of $3.7 million for the fiscal first quarter, which ran April to June, compared to a $68 million loss in the same period last year, Sony Corp. reported in Tokyo on Tuesday.Spider-Man: Far From Home, was released at the start of July, just after the quarter ended.

Overall revenue at Sony Corp. was down 1 percent at $17.52 billion, compared with the same period last year, with earnings down 33 percent to $1.38 billion. The PlayStation 4 continued to deliver for Sony, but with revenue down slightly at $4.21 billion. Operating income at the game division was $679 million.

Sony stock was down slightly Tuesday in Tokyo at ¥5,852 before the earnings report, while the Nikkei 225 stock index was up slightly.

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