Sony Profit Rises on Success of ‘Spider-Man’
On the strength of the hit film “Spider-Man,” Sony Corp. profit rose for its fiscal first quarter despite a lackluster electronics business.
The Japanese electronics and entertainment giant reported a profit of $492 million for the three months ended June 30, up from a $260-million loss for the same period a year ago. Sales rose 5% to $14.6 billion from $13.7 billion.
“Spider-Man,” the best-performing film in Sony Pictures’ history, had exceeded $675 million in worldwide box office revenue as of the end of June.
Sales in electronics were unchanged, the company said.
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