Sony says massive hack cost the company $15 million

[Audrey McNeil <audrey () riskbasedsecurity com>]

http://mashable.com/2015/02/04/sony-hack-cost-15-million/

Sony Corp. on Wednesday gave a figure for damages from the Sony Pictures
hack: $15 million.

The hack, which U.S. officials blamed on North Korea, became public in
December when the Hollywood studio's computers were crippled and sensitive
documents were posted online.

The entertainment and electronics giant delayed the announcement of its
earnings for the October-December quarter because the cyberattack affected
its ability to compile its complete results in time.

Sony issued new earnings forecasts for the fiscal year ending in March and
said it was benefiting from strong sales of the PlayStation 4, other
devices and network services.

The company is forecasting a loss of 170 billion yen ($1.4 billion) for the
fiscal year, an improvement from its earlier forecast of a 230 billion yen
loss.

The company reported a 40 billion yen loss last fiscal year.

Sony has brought in new top executives and is in the midst of a major
restructuring that is expected to help put the company on a stronger
footing after years of losses.

It still is relatively strong in video games and its movie and music
businesses have benefited from a weakening in the Japanese yen, which
improves profit earned in dollars when it is brought back to Japan.

The company has sold its Vaio computer business and is splitting off its TV
division to run as a wholly-owned subsidiary.

In its update, Sony said stronger than expected sales of the PlayStation 4,
higher network services revenue, robust sales of devices and a slight
improvement in its financial services business will help counter a decline
in its mobile business.

It expects to release its October-December quarterly result by the end of
March.

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