Sony Corporation Shows Profit Despite Hacking

Commonly referred to as Sony, is a Japanese multinational conglomerate corporation headquartered in Kōnan Minato, Sony Corp. said that provisional results for its Sony Pictures Entertainment (SPE) unit show a profit of $20 million (￥24.3 billion) for fiscal third quarter ended December, during which the studio's computer systems were hacked by a group calling themselves Guardians of Peace. Sony Pictures saw a 90 percent fall in operating income compared to the same period in 2013 due to the hacking and lower theatrical revenue, according to the provisional earnings report. Its biggest box office hit during the quarter was Fury, which took more than $200 million worldwide. Sales at Sony Pictures are predicted to fall 23 percent in dollar terms to $1.63 billion, but only 11.7 percent in yen, due to the weakening of the Japanese currency. There were also fewer home entertainment releases in the last quarter, while the same period in 2013 benefited from the strong VOD revenues from Breaking Bad.

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