Sony forecasts return to profit despite devastating hack at its Hollywood studio

IndustriesAssociated Press

Sony Corp. is forecasting a profit of 20 billion yen ($170 million) for the year that ends in March and doesn't expect the hack at Sony Pictures to hurt its finances overall.

The entertainment and electronics giant delayed the announcement of its earnings for the October-December quarter, citing internal difficulties arising from the hack at Sony Pictures Entertainment.

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But it issued new earnings forecast Wednesday and said it was benefiting from strong sales of gaming and network services and devices.

The company reported a 40 billion yen loss last fiscal year.