Sony Pictures Swings To Profit In 2Q While Parent Company Forecasts $1.2B FY Loss

“Sony delivered a gloomy report as it reeled from problems that ranged from surprisingly low sales of TV sets to floods in Thailand. For the quarter that ended in September, the fiscal 2Q, Sony had a net loss of $350M on sales of $20.5B. But it also slashed its projection for fiscal-year results to a $1.2B loss from a $769M profit. Sony Pictures delivered operating income of $268M, up from a $61.6M loss in the quarter last year, on revenues of $2.2B, up 17%. But that includes $278M from the sale of Spider-Man merchandising rights, as well as strong results for The Smurfs. . .” Deadline.com has the full story.