Menu
Sony delays earnings report in wake of hack attack

Sony delays earnings report in wake of hack attack

Damage to its network systems means some data won't be ready, it says.

Sony has requested approval to delay its third-quarter earnings report, citing damage to network systems in its Sony Pictures Entertainment division caused by the cyberattack it sustained late last year.

The November attack, which the FBI has http://www.techworld.com/news/security/fbi-blames-north-korea-for-sony-hack-citing-malware-evidence-3591744/">concluded was conducted by North Korea in order to protest release of the comedy film "The Interview," has resulted in new U.S. economic http://www.pcworld.com/article/2864292/white-house-approves-sanctions-against-north-korea-for-sony-hack.html">sanctions against the communist nation. Though it was initially pulled from theatrical release, the movie -- depicting a planned assassination of North Korean leader Kim Jong Un -- was ultimately released in late December and earned more than $1 million on its opening day.

Sony Pictures, however, was left reeling from "a serious disruption" to its systems, the company explained in an http://www.sony.net/SonyInfo/IR/news/20150123_E.pdf">application with the Financial Services Agency of Japan on Friday. Included in the damage was "the destruction of network hardware and the compromise of a large amount of data on these systems," it said.

Sony Pictures shut down its entire network in response to the attack. While restoration work is under way, its financial and accounting applications won't be fully functional until early February 2015, it said.

As a result, it requested an extension of its regular Feb. 16 deadline for filing the report until March 31.

Although its results won't yet be ready, Sony will still stick to its previously scheduled Feb. 4 date for issuing a release and holding an earnings conference, it said, "so as to provide investors, shareholders, analysts, media and other stakeholders with updated forecasts."

The impact of the cyberattack on Sony's financial results does not appear to be material, Sony said, though it admitted its evaluation is still ongoing.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags business managementbusiness issuessonyreportingfinancial results

Featured

Slideshows

EDGE 2018: Kiwis kick back with Super Rugby before NZ session

EDGE 2018: Kiwis kick back with Super Rugby before NZ session

New Zealanders kick-started EDGE 2018 with a bout of Super Rugby before a dedicated New Zealand session, in front of more than 50 partners, vendors and distributors on Hamilton Island.‚Äč

EDGE 2018: Kiwis kick back with Super Rugby before NZ session
EDGE 2018: Kiwis assess key customer priorities through NZ research

EDGE 2018: Kiwis assess key customer priorities through NZ research

EDGE 2018 kicked off with a dedicated New Zealand track, highlighting the key customer priorities across the local market, in association with Dell EMC. Delivered through EDGE Research - leveraging Kiwi data through Tech Research Asia - more than 50 partners, vendors and distributors combined during an interactive session to assess the changing spending patterns of the end-user and the subsequent impact to the channel.

EDGE 2018: Kiwis assess key customer priorities through NZ research
Show Comments