PlayStation Praises Nintendo, Microsoft in Call For Unity Among Game Makers

Read on: Variety.

PlayStation’s Shawn Layden kicked off the annual DICE Summit in Las Vegas this week with a call for unity among game makers, a significant step away from an age-old approach that led to console wars that pitted PlayStation against Xbox against Nintendo…

Sony Reports Q3 Earnings Ahead of Expectations Following Success of ‘Venom’

Read on: TheWrapTheWrap.

Sony Corp. reported earnings for the 2018 fiscal third quarter on Friday that were above Wall Street’s expectations for the entertainment and technology company.

The Sony Pictures filmed division, which includes the motion pictures business, as well as TV production and media networks reported profits improved  to $2.54 billion for the third quarter, compared with $2.37 billion in the year-earlier period.

The Sony Pictures movie division recorded a $107 million profit for the quarter, which was up compared with $93 million in the same quarter the previous year. The film unit was buoyed by the theatrical success of Venom, which pulled in $855 million worldwide.

Also Read: Sony’s ‘Ghostbusters’ Sequel Gets July 2020 Release

The Japan-based parent company reported $3.78 billion in net profit for the three month period ending in December. Earnings per share were $2.93 for the quarter, above the $1.82 per share earnings one analyst via Yahoo Finance forecasted, and ahead of the $2.06 per share the company reported during the same quarter a year ago.

Revenue amounted to $21.3 billion, slightly below the $23.6 billion the sole analyst covering on Yahoo Finance expected.

The entertainment and electronics division’s revenue was boosted by the strong performance of PlayStation 4 games like “Marvel’s Spider-Man,” as well as improving streaming sales and publishing income in its music division.

Also Read: Kelly Marcel to Write ‘Venom’ Sequel for Sony

Sales in its game division were up 10 percent, but profit fell due to the impact of currency fluctuations and lower sales of the PS4 consoles and discounts offered during the holiday season.

In the music division, sales were down 4 percent, but profit more than tripled to $1.35 billion thanks to a boost from the consolidation of its stake in EMI Music Publishing.

Related stories from TheWrap:

Amazon Delivers Record Quarterly Revenue, Surpasses Wall Street’s Q4 Earnings Expectations

Comcast Q4 Earnings Top Estimates as Universal’s ‘The Grinch,’ ‘Halloween’ Boost Box Office

Netflix Posts Record Subscriber Growth, Strong Q4 Earnings

‘Call of Duty: Black Ops 4’ Top Seller of 2018, Games Have Best October in NPD Tracking History

Read on: Variety.

This October, which pulled in $1.55 billion in U.S. sales, was the best October in U.S. video game sales history since the NPD Group starting tracking the industry in 1995, the group reported. Those high sales were powered by a more than doubling of ga…

Sony Posts Better Than Expected Q2 Earnings, Profit

Read on: TheWrapTheWrap.

On Tuesday, Sony Corp. reported earnings and revenue for the second quarter above Wall Street expectations, with the media, technology and entertainment company’s film division earning $209 million during the three-month period.

The Japan-based parent company reported earnings per share of $1.20, according to the company’s quarterly earnings report. That was above the 91 cents per share earnings one analyst via Yahoo Finance expected, and better than the 93 cents per share the company reported during the same quarter a year ago.

Revenue during the quarter was $19.6 billion, up compared to $18.6 billion a year ago and above the $19.1 billion analysts forecast.

Also Read: ‘Venom’ Stomps Past $500 Million at Worldwide Box Office

The company’s Sony Pictures division, which includes the motion pictures business, as well as TV production and media networks, posted a profit after reporting a loss of $68 million in its three months ending June 30.

Sony said that the company’s pictures division saw a year-over-year decline in revenue because of a decrease in worldwide theatrical revenues due to the strong performance of “Spider-Man: Homecoming” during the second quarter last year.  That, however, was partially offset by higher TV licensing revenues for titles that were released in 2017, notably “Jumanji: Welcome to the Jungle” and “Peter Rabbit.”

The company expects full-year revenue for the motion pictures group to be higher-than-expected thanks to strong theatrical performances of titles released in the current fiscal year.

Also Read: Sony Pictures Promotes Michael Marshall to President of Studio’s Business Affairs

The music division saw profits slip slightly to $279.5 million from $288.5 million during the same quarter a year ago. Sony said music revenues fell year-over-year due to a decrease in physical and digital download revenues, which were partially offset by an increase in streaming revenues.

The gaming and network services arm nearly doubled earnings, making $804 million compared to $485.8 million in the second quarter. Game software sales, which include those for the company’s popular PlayStation 4 console, increased during the quarter, and Sony said it expects that trend to continue through the full fiscal year, along with an increase in PS4 unit sales and an increase in sales of its paid membership service PlayStation Plus.

Related stories from TheWrap:

Imax Tops Q3 Earnings Expectations on Huge China Growth

AT&T Falls Shy on Earnings in First Quarter Since Time Warner Acquisition

Netflix Smashes Q3 Earnings and Subscriber Projections, Stock Soars 14 Percent

‘Rick and Morty’ Co-Creator Justin Roiland on Splitting Development Time Between Video Games, TV

Read on: Variety.

For the foreseeable future “Rick and Morty” co-creator Justin Roiland plans to devote his time to the creation of video games at his studio Squanch Games. But also, he plans to devote his time to the creation of new episodes of “Rick and Morty” under t…