Hudson Square Research Analyst: Sony Will Incur Costs Due To Possible Cyber Attack, But Revenues Will Not Suffer
Speaking to Benzinga, Hudson Square Research Principal Daniel Ernst said the possibility of a cyber attack is likely to incur costs for Sony Corp (ADR) (NYSE: SNE) to investigate and repair its network, as well as to protect and insure its affected employees.
That being said, Ernst pointed out that the cyber theft of data from Sony will have a “near zero impact” on revenues.
He explained that people who watch pirated content don’t usually spend money to watch films in the first place, and those who do pay money to visit movie theaters and buy DVDs don’t typically watch pirated content.
“In the greater scheme of their overall restructuring, this event will likely prove insignificant,” he said.
Brianna Valleskey contributed to this report.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.