Studio Hack Cost $15 Million, Says Sony, Trims Loss Forecast : BREAKING NEWS
- Duration: 1:45
- Updated: 05 Feb 2015
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TOKYO:
Sony Corp trimmed its forecast of losses and estimates the Sony Pictures hack cost it about $15 million, but expects no significant harm from the cyber-attack in the long run.
Sony also 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 hack became public in December when the Hollywood studio's computers were crippled and sensitive documents were posted online. "We don't expect leaks of unreleased films online or damage to our IT systems will cause a significant loss," Kazuhiko Takeda, vice president of Sony's corporate planning department, told reporters.
"We had insurance against cyberattacks and will be able to recover a significant portion of the costs."
The company had delayed the announcement of its earnings for the October-December quarter because the hack affected its ability to compile its complete results in time.
It expects a loss of 170 billion yen ($1.4 billion) for the fiscal year, an improvement from a forecast made in October of a 230 billion yen loss. The company reported a 40 billion yen loss last fiscal year, which was the latest in a succession of losses as its TV business lost ground to cheaper competitors.
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http://wn.com/Studio_Hack_Cost_15_Million,_Says_Sony,_Trims_Loss_Forecast_BREAKING_NEWS
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TOKYO:
Sony Corp trimmed its forecast of losses and estimates the Sony Pictures hack cost it about $15 million, but expects no significant harm from the cyber-attack in the long run.
Sony also 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 hack became public in December when the Hollywood studio's computers were crippled and sensitive documents were posted online. "We don't expect leaks of unreleased films online or damage to our IT systems will cause a significant loss," Kazuhiko Takeda, vice president of Sony's corporate planning department, told reporters.
"We had insurance against cyberattacks and will be able to recover a significant portion of the costs."
The company had delayed the announcement of its earnings for the October-December quarter because the hack affected its ability to compile its complete results in time.
It expects a loss of 170 billion yen ($1.4 billion) for the fiscal year, an improvement from a forecast made in October of a 230 billion yen loss. The company reported a 40 billion yen loss last fiscal year, which was the latest in a succession of losses as its TV business lost ground to cheaper competitors.
TAGS
abc breaking news, bbc, bbc football, bbc iplayer, bbc news, bbc news america, bbc persian, bbc sport, bbc weather, bbc world news, breaking celebrity news, breaking election news, breaking late news, breaking local news, breaking music news, breaking news, breaking news alerts, breaking news canada, breaking news headlines, breaking news in atlanta, breaking news in nigeria, breaking news india, breaking news pensacola florida, breaking news plane crash, breaking news story, breaking sports news, business expensive news home media world, christian world news, cnn, cnn breaking news, cnn money, cnn news, cnn news breaking news, cnn news world, detroit breaking news, global news, headline, headline news, health care technology news, hot latest global news, internet technology news, las vegas breaking news, latest breaking news, latest celebrity news, latest information technology news, latest music news, latest news, latest news headlines, latest news update, latest sports news, live breaking news, local breaking news, local news today, msn breaking news, nbc breaking news, nbc world news, news of the world, news report us world, news today news, news updated daily, solar technology news, sports news today, technology news, the latest news, today news, us news and world, us news and world report, us news and world report magazine, us news and world report web site, us news world report, world news, world news daily, world news headlines
- published: 05 Feb 2015
- views: 1