Sony Pictures reported a huge loss

Sony Pictures reported a huge lossSony Pictures Studios reported a big loss for the period from April to June 2016. According to the publication The Hollywood Reporter, the financial losses of the company amounted to 103 million dollars, despite the fact that the sales of its products increased compared to the same period in 2015 by 20 per cent in dollar terms and by seven percent by weight in the yen.

It is alleged that the correct position is not helped any successful hire some film projects the studio, like the cartoon "Angry Birds in the movie," earned over $ 340 million with a production budget of $ 73 million, or grown in comparison with last year, advertising revenues in India and South America or increase the cost of licensing TV shows.

The only consolation for the studio is the fact that the decline was less than in the same period of 2015. The deterioration of financial performance caused Sony Pictures management to revise its forecast for the end of this year, lowering the expected revenues by nine percent.

It should also be noted that the parent Sony Corp. It announced that its net income in the quarter amounted to 205 million dollars, which is 74 percent less than in 2015. Major losses recorded in the departments of mobile devices.
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