Spider-Man Surge Lifts Sony Pictures’ Quarterly Results

The film’s box-office performance powered a sharp improvement in Sony Pictures Entertainment’s results for the three months ending September 30. Revenue reached $3.23 billion, up 37% from the same period a year earlier, while operating income rose to $488 million from $93 million, a 527% increase.

Adjusted operating income before depreciation and amortization came to $670.4 million, compared with $183 million a year earlier. The film’s July 31 wide release and strong theatrical sales were major contributors to the gains.

Spider-Man: Brand New Day earned $2.52 billion worldwide over the summer, making it the third-biggest movie in history, behind the original Avatar and Avengers: Endgame. It also set a North American three-day opening record, surpassing Avengers: Endgame, and became the highest-grossing Hollywood movie to date in India.

For Sony overall, quarterly revenue was 3.429 trillion yen, equivalent to $21.5 billion, a 10% rise. The company’s reported net income was 450 billion yen, or about $2.8 billion.

Tom Rothman, head of Sony Pictures’ Motion Picture Group, described the movie in September as a character-focused, emotional story alongside its action. Sony’s results cover its second fiscal quarter, which ended September 30.