Sony Pictures achieved net profits of $1.3 billion in the three months to December 2021, boosted by a return to theatrical releasing and the blockbuster performance of “Spider-Man: No Way Home.” Th…
Pictures achieved net profits of $1.3 billion in the three months to December 2021, boosted by a return to theatrical releasing and the blockbuster performance of “Spider-Man: No Way Home.”
The bumper results, unusually, made the pictures division the largest contributor to Sony’s consolidated net profits. The pictures division includes the movie studios, television production and TV network operations. Already in 2022, Sony has announced moves to bulk up two of its most consistently profitable business lines, games and semiconductors.
The games sector, where demand has already been buoyed by the effects of lockdowns and COVID, is becoming more competitive at a corporate level. In recent weeks Microsoft has agreed a $68.7 billion deal to acquire Activision Blizzard, while Take-Two Interactive announced plans for a $12.7 billion takeover of casual games firm Zynga.
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