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Sony narrows annual loss outlook

Wednesday, February 04, 2015 - 01:16

Sony reports preliminary results with the focus falling on how badly a hacking scandal at its Hollywood movie studio affected its bottom line, and whether the company is finally turning around. Tara Joseph reports.

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Hollywood hit ' The Interview' may have landed Sony in a PR disaster, but overall the company is on a fresh track. Sony estimating on Wednesday that its operating profit doubled to 1.5 billion dollars in the third quarter while the firm trimmed its loss forecast for 2014. Higher-than-expected sales of Playstation video game consoles are helping Sony. Plus, it has a new winning product up its sleeve - tiny image sensors for smartphone cameras that are selling like hotcakes to many of its competitors. Sony still has some problems with its long suffering mobile phone business. It will cut an additional 1,100 jobs in the division which is dragging on the bottom line. But there's still no way of knowing Sony's exact number right now. The release of 'The Interview' sparked a hacking attack linked to North Korea which forced Sony Pictures to shut down its computers, meaning it couldn't get its books in order before the earnings deadline. But Sony admits the cyber attack and costs associated have weighed on profits at the movie division.

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Sony narrows annual loss outlook

Wednesday, February 04, 2015 - 01:16