Sony Pictures Posts Hack-Delayed Quarterly Profit of $51 Million

AP Images
SPE

The figure is up from a February estimate and includes $15 million for the cost of the hacking investigation and repair.

Sony Pictures generated a profit of $51 million (¥6.2 billion) in the quarter ended 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.

That was down 75 percent from the year-ago period in yen terms.

Revenue at the pictures division came to $1.707 billion (¥206.6 billion) for the fiscal third quarter, up from the Feb. 4 estimate of $1.633 billion. Compared with the same quarter in 2013, revenue was 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. 

Read more Japan Box Office: 'Into the Woods' Has Best Opening for Live-Action Musical Since Millennium

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. 

The company also announced final quarterly figures for the entire conglomerate on Tuesday, taking into account the new numbers for the pictures division. Total operating income for the fiscal third quarter was revised slightly up to $1.505 billion (¥181.2 billion).

Twitter: @GavinJBlair

comments powered by Disqus