Sony Pictures Confirms Hack-Delayed Q3 Profit of $51m, More Than Double February Forecast

[InfoSec News <alerts () infosecnews org>]

http://www.hollywoodreporter.com/news/sony-pictures-confirms-hack-delayed-782423

By Gavin J. Blair
The Hollywood Reporter
3/17/2015

Sony Pictures generated profits of $51 million (￥6.2 billion) in the quarter 
ending Dec. 31, the period affected by the hacking attack, more than the $20 
million it had predicted in February, Sony Corp. announced in Tokyo on Tuesday.

Sales at the pictures division were $1.707 billion (￥206.6 billion) for the 
quarter, up from the Feb. 4 estimate of $1.633 billion. Compared to the same 
quarter in 2013, sales were down 20 percent on a dollar basis, but only 7.7 
percent in yen, due to the weakening of the Japanese currency.

The final announcement of Sony's third-quarter earnings was delayed by the hack 
by a group calling itself Guardians of Peace, which caused huge disruption to 
the operations of Sony Pictures Entertainment in November and December.

Sony explained at the Feb. 4 provisional announcement that much of the damage 
caused by the hack was covered by insurance and predicted a cost of 
approximately $15 million, an amount confirmed in today's figures.

[...]

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