Sony Group’s pictures division 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” in particular.
The pictures division’s $1.31 billion figure, reported Wednesday in a regulatory filing, compares with profits of $288 million in the preceding three months to the end of September 2021. It compares with net profits of $194 million in the equivalent quarter of 2020.
Parent company, Sony Group’s net profits grew by 20% in the three months to December 2021, hitting JPY461 billion ($4.15 billion at an average Dollar to Japanese Yen exchange rate of $1=JPY111). Sales were up by 13% to JPY3.03 trillion ($27.2 billion).
The bumper results, unusually, made the pictures division the largest contributor to Sony’s consolidated net profits. The…
