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Business

Sony blames hack attack for earnings delay

By
Post Staff Report
Published Jan. 23, 2015, 11:09 a.m. ET

Hackers have put a halt to Sony’s earnings report.

Sony said Friday it will ask regulators for permission to delay its earnings release and blamed the massive cyber attack last year that crippled its computer network — and its ability to crunch the numbers.

The hack attack at Sony Pictures Entertainment caused “the destruction of network hardware and the compromise of a large amount of data,” the Tokyo-based company said in a statement.

Sony said the security breach that divulged sensitive corporate information and embarrassing emails was unlikely to have a material impact on results even though it disrupted the release of “The Interview.”

The FBI tied the November attack to North Korean outrage over the controversial Seth Rogen satire, which depicted the assassination of leader Kim Jong Un.

After major movie theater chains shunned it, the film got a limited release in smaller art-house theaters and through Internet and cable outlets. So far, the film has pulled in $40 million, thanks to online and on-demand release.

Sony had planned to release earnings on Feb. 4 but now wants to delay it until the end of March. The company still plans to have a conference to update investors on that day.

The Japanese electronics and entertainment giant has struggled with mounting losses in the last few years, mostly because of faltering smartphone and flat-screen TV sales.