International TV Co-Editor
Quarterly Call Sees Stock Price Drop – 6 Minutes Daily – August 7
Sony Pictures Entertainment reported first-quarter operating income of $73 million, down more than 36% year-over-year in U.S. dollars.
Revenue also fell 7% to $2.17 billion from $2.32 billion for the three months ended June 30, 2024, despite the performance of films like The Garfield Movie and Bad Boys: Ride or Die and growth in streaming subscribers.
Tokyo-based Sony generally pointed out that the number of theatrical releases and launches of new TV seasons declined as a result of the financial releases, but noted that anime streamer Crunchyroll had boosted its coffers through higher subscription prices.
