Sony's Big Win: How Cost Cuts Boosted Profits

Sony Pictures Entertainment had a great quarter. They made a lot of money. Profits went up by 70% to 354 million dollars. This happened because they spent less on promoting movies in theaters. Their total earnings for the three months stayed about the same at 2. 7 billion dollars. This quarter was quiet for Hollywood, but a few movies did well. "Paddington in Peru" was a big hit. Other movies like "One Of Them Days" and "Becoming Led Zeppelin" also came out. Last year, they had big movies like "The Book Of Clarence" and "Ghostbusters: Frozen Empire" which cost a lot to promote. Sony has a lot of upcoming movies. "Karate Kid: Legends" just opened in Latin America and will come to the U. S. soon. "28 Years Later" and "I Know What You Did Last Summer" are also coming out. These movies were well-received at CinemaCon. They also have big plans for "Spider-Man: Beyond the Spider-Verse" and an "Anaconda" remake. Sony Pictures Entertainment does a lot. They make movies, TV shows, and run media networks worldwide. They also own Sony Music, Games, and other big companies. They plan to split off their Financial Services soon. Sony made a total of 1. 3 billion dollars in profit, up 5% from last year. But their sales went down by 24%. This is partly because of increased tariffs from the U. S. Sony is trying to handle this. They expect the impact on their profits to be around 685 million dollars. Sony's CEO, Hiroki Totoki, said their entertainment business is doing well. It makes up about 60% of their revenue. They are focusing on growing this part of the business. They also tried to buy Paramount Global but lost out to Skydance. Last year, they bought the Alamo Drafthouse movie theater chain.