Sony Pictures Entertainment has posted a $209M profit for the July-September period, a significant increase on last year’s similar quarter which logged $68M in earnings while last quarter saw a $68M loss.
The jump is thanks in part to the robust global box office of Hotel Transylvania 3: Summer Vacation which has grossed over $520M worldwide. Reporting the Q2 earnings in Tokyo, Sony also cited The Equalizer 2 ($190M global) as well as a new accounting method and lower theatrical marketing expenses as reasons for the division’s increase.
Boosting its outlook for the full year ending March 31 by 6%, Sony expects the Pictures segment to reach $443.6M (50B yen). Superhero hit Venom, which this weekend passed the $500M global mark, will factor in the next quarter’s report and work in favor of the full fiscal year. Notable releases on deck through the end of 2018 include Spider-Man: Into The Spider-Verse.
