Sony Corp (ADR)(NYSE:SNE)’s PlayStation Network suffered a major attack and service outage yesterday, the second such attack in a number of years. Unlike the 2011 attack in which Sony Corp (ADR)(NYSE:SNE) lost customer data however, this most recent outage resulted in no data being hijacked, and that ultimately makes the situation a “win for Sony” according to Jon Fortt on CNBC today.
“I think it’s a win for Sony. They look like the grown-ups here. Denial-of-service attack is kind of like a brute force attack; you’re banging on the doors, hoping that something in the digital hinges shakes loose, and you can get information out of the company whose service you’re attacking. It seems like they didn’t get anything out of Sony in this attack, unlike the previous PlayStation Network attack,” Fortt said.
Daily Mail North America CEO John Steinberg added that while the attack was an annoyance for gamers, who were unable to access the online components of their games for several hours, it’s unlikely to have any effect on Sony Corp (ADR)(NYSE:SNE)’s revenue, as their online services aren’t intrinsically tied into any revenue stream that would be materially impacted by the outage.
The 2011 attack resulted in Sony Corp (ADR)(NYSE:SNE) taking down the PlayStation Network for a month and a half, during which time they greatly enhanced their security and monitoring of the network, which seems to have paid off during the most recent attack.
It’s otherwise been a tremendous calendar year for Sony’s PlayStation division. Their PlayStation 4 video game console has stormed out to a large lead over fierce rival Microsoft Corporation (NASDAQ:MSFT)’s Xbox One. The PS4 has already sold over 10 million units since its release less than a year ago, about twice as many as the XB1, and is currently outselling it 3-to-1 by some accounts.
Israel Englander’s Millenium Management hedge fund is a major shareholder of Sony Corp (ADR)(NYSE:SNE), with 177,399 shares. Sony Corp is also listed on the Tokyo Stock Exchange, under ticker 6758.
Disclosure: none
Suggested Articles:
