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Sony Pictures Narrows Quarterly Loss

Sony pics Oct. 29 reported a $58 million second-quarter (ended Sept. 30) operating loss, anticipated in element to elevated marketing and distribution costs associated to an grown theatrical slate.

The decline marked a $20 million development from the net decline of almost $78 million all through precisely the exact time period last year.

Sony Pictures, which consists of Sony pics home Entertainment, stated theatrical releases Salt, Grown Ups, Resident Evil: Afterlife, The Karate child as well as one other Guys mixed to enhance income 6.1%, to $1.7 billion from $1.6 billion all through precisely the exact time period a yr ago.

Parent Sony Corp., which unveiled the studio results, do not comment for the home amusement segment, which consists of electronic distribution.

During a phone call with analysts, Robert Wiesenthal, celebration executive, company growth for Sony Corp., and EVP and CFO of Sony Corp. of America, stated the business and studio remained on check to rollout a 3D television set neighborhood with Imax and Discovery funnel inside the first quarter up coming year, in inclusion to escalating its slate of 3D Blu-ray Disc releases.

Overall, Sony reported net earnings of $375 million on income of almost $21 billion, in comparison owning a net decline of $322 million last year.