Sony spends $15 million on dealing with its cyberattack woes

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Sony spends $15 million on dealing with its cyberattack woes

Instead of announcing its financial results today, Sony had to merely issue a forecast for how it's fared in the last financial quarter. In case you've missed it, that's because it's dealing with the cyberattack that not only spilled the beans on much of Sony's movie business but also knocked out its accounting equipment. To that end, it's announced that it'll spend approximately $15 million this quarter to both investigate and recover from the cyberattack. (That's not to be confused with the $15 million in restitution it offered users last month for a separate security breach.) The company otherwise raised its earning forecast for the year, with net profits of $756 million made from October to December of last year. Sony isn't yet done restructuring, however. In its mobile business, it now plans to shed 2,100 jobs: a further 1,100 positions to cuts it previously announced last year.

Despite this, the mobile division managed to make a slim profit, which the company put down to a healthier (smaller) range of smartphones -- expect more streamlining in 2014. While Sony Pictures was understandably hit hardest by the hack, the arm still managed to pull in over $20 million in profit over the typically lucrative holiday quarter.
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