Joystiq http://www.joystiq.com Joystiq http://www.blogsmithmedia.com/http://www.joystiq.com/media/feedlogo.gif Joystiq http://www.joystiq.com en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[EA executives Andrew Wilson, Stephen Bene unload stocks]]>http://www.joystiq.com/2013/05/10/ea-executives-andrew-wilson-stephen-bene-unload-stocks/http://www.joystiq.com/2013/05/10/ea-executives-andrew-wilson-stephen-bene-unload-stocks/http://www.joystiq.com/2013/05/10/ea-executives-andrew-wilson-stephen-bene-unload-stocks/#comments Two of Electronic Arts' top-level executives have collectively unloaded a total of 57,085 stocks, following a general increase in EA's stock value after this week's Star Wars exclusivity announcement. According to SEC forms filed yesterday, EA Sports executive vice president Andrew Wilson has sold his entire stake in the company: 32,085 shares at $21.42 a pop, for a grand total of $687,260.70.

EA senior vice president and General Counsel Stephen Bene followed suit, today exercising an option to buy 25,000 shares from EA at $16.06 per share for $401,500 in total, well below the current market value. Bene then sold those shares for $22.40 each, making $560,000. After subtracting the amount originally spent when the option to buy the shares was exercised, Bene made a net profit of $158,500. Unlike Wilson, Bene is still in possession of 6,700 shares of EA, according to SEC documents.

JoystiqEA executives Andrew Wilson, Stephen Bene unload stocks originally appeared on Joystiq on Fri, 10 May 2013 19:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>3dsAndrew-WilsonEAelectronic-artsfinancemacmicrosoftmobilenintendopcplaystationplaystation-vitaps3Stephen-Benestocksvitawii-uxboxFri, 10 May 2013 19:30:00 EST<![CDATA[Project Awakened on hold due to 'alternate funding options,' donors receiving refunds]]>http://www.joystiq.com/2013/05/04/project-awakened-on-hold-due-to-alternate-funding-options-don/http://www.joystiq.com/2013/05/04/project-awakened-on-hold-due-to-alternate-funding-options-don/http://www.joystiq.com/2013/05/04/project-awakened-on-hold-due-to-alternate-funding-options-don/#comments Phosphor Games has cancelled its self-powered crowdfunding initiative for Project Awakened and will be issuing refunds to everyone that has contributed to the drive thus far, according to a missive of the game's official website.

"At this time we need to put our funding endeavor on hold effective immediately. Everyone who pledged money will be receiving a full refund," the message reads. "There have been some alternative funding options that have recently been presented to us, so please continue to keep an eye out on our Facebook page for future updates."

Phosphor turned to DIY crowdfunding after its initial efforts to raise capital on Kickstarter fell short of the company's goal.

JoystiqProject Awakened on hold due to 'alternate funding options,' donors receiving refunds originally appeared on Joystiq on Sat, 04 May 2013 21:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>canceledcancellationcrowdfundingfinancefundingkickstarterpcphosphor-gamesproject-awakenedrefundSat, 04 May 2013 21:00:00 EST<![CDATA[THQ in forbearance agreement with Wells Fargo, CFO resigns]]>http://www.joystiq.com/2012/11/20/thq-in-forbearance-agreement-with-wells-fargo-cfo-resigns/http://www.joystiq.com/2012/11/20/thq-in-forbearance-agreement-with-wells-fargo-cfo-resigns/http://www.joystiq.com/2012/11/20/thq-in-forbearance-agreement-with-wells-fargo-cfo-resigns/#comments THQ enters forbearance agreement with Wells Fargo, talking with secret financial sponsorTHQ is on the edge of a financial cliff, with its stock currently dangling around $1.25, market capitalization at $8.5 million, and corporate heads exploring financial strategies with a private equity broker. Now, THQ's Chief Financial Officer Paul Pucino has resigned, with no one named as his successor. Pucino took over the position from Colin Slade in 2009.

"We would like to thank Paul for his significant contributions over the past four years and wish him well in his future endeavors," THQ CEO Brian Farrell says.

THQ is now in a forbearance agreement with Wells Fargo, valid through January 15, wherein Wells Fargo will continue to distribute loans to THQ. In a forbearance agreement, the lender (Wells Fargo, in this scenario) stops enforcing current or expected defaults, and the borrower uses the time to improve its financial situation or exit the relationship. It's a lot like time out, but for a corporation.

"We are pleased to have reached an agreement with Wells Fargo," Farrell says. "This agreement enables us to continue focusing on bringing our games in development to market. Meanwhile, we are evaluating financial alternatives that will transition the company into its next phase."

THQ has also entered negotiations with a mysterious financial sponsor, and it expects these to conclude with "significant and material dilution to shareholders."

Continue reading THQ in forbearance agreement with Wells Fargo, CFO resigns

JoystiqTHQ in forbearance agreement with Wells Fargo, CFO resigns originally appeared on Joystiq on Tue, 20 Nov 2012 20:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>financefinancialmicrosoftmobilenintendopcplaystationps3THQwells-fargowii-uxboxTue, 20 Nov 2012 20:00:00 EST<![CDATA[Microsoft Q3 results: 1.4 million 360s sold, Entertainment division revenue down year-over-year]]>http://www.joystiq.com/2012/04/19/microsoft-q3-results-1-4-million-360s-sold-entertainment-divis/http://www.joystiq.com/2012/04/19/microsoft-q3-results-1-4-million-360s-sold-entertainment-divis/http://www.joystiq.com/2012/04/19/microsoft-q3-results-1-4-million-360s-sold-entertainment-divis/#comments ImageDespite being the number one best-selling console in America for fifteen months running, the 360's success wasn't enough to prevent Microsoft's Entertainment and Devices Division from being the only section of the company to post a year-over-year decline in revenue during the third quarter of fiscal 2012.

The Entertainment and Devices Division, which includes Microsoft's gaming businesses and the Windows Phone platform, finished the period ending on March 31, 2012 with $1.62 billion in revenue - a 16 percent drop over the same period in fiscal 2011. During Q3 2012, Microsoft sold 1.4 million 360s, a 48 percent drop year-over-year.

When the entirety of fiscal 2012 is taken into account, however, the Entertainment and Devices Division is actually up as far as revenue is concerned: $7.84 billion so far in fiscal 2012 as compared to $7.42 billion by this time in fiscal 2011. The devision's operation income, on the other hand, is down year-over-year, posting at $627 million for the first nine months of fiscal 2012, compared to $1.24 billion for this time last year.

Otherwise, Microsoft's Q3 performance was strong across all fronts: Overall quarterly revenue rang up at $17.41 billion, a six percent increase over Q3 2011, with a business-wide operating income of $6.37 billion, a 12 percent year-over-year increase.

JoystiqMicrosoft Q3 results: 1.4 million 360s sold, Entertainment division revenue down year-over-year originally appeared on Joystiq on Thu, 19 Apr 2012 19:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>financekinectmicrosoftmobilepcQ3-2012sales-figurexboxThu, 19 Apr 2012 19:00:00 EST<![CDATA[Indie Fund backs Antichamber in an attempt to make the impossible real]]>http://www.joystiq.com/2012/04/03/indie-fund-backs-antichamber-in-an-attempt-to-make-the-impossibl/http://www.joystiq.com/2012/04/03/indie-fund-backs-antichamber-in-an-attempt-to-make-the-impossibl/http://www.joystiq.com/2012/04/03/indie-fund-backs-antichamber-in-an-attempt-to-make-the-impossibl/#comments Image
Antichamber is the seventh title to receive the financial backing of Indie Fund, who has recently helped in the success of such titles as Q.U.B.E. and Dear Esther. Antichamber has won almost as many awards as the number of years it's been in development -- casually since 2006 and full-time since 2010 -- and has been nominated for three more than that. We'll wait while you calculate that one (remember to carry the two).

Developed by Alex Bruce, Antichamber is a practice in psychological, philosophical, impossible puzzle games that has captured the attention of festivals and reviewers for years, and with Indie Fund backing we're looking forward to seeing this one finished sometime soon.

JoystiqIndie Fund backs Antichamber in an attempt to make the impossible real originally appeared on Joystiq on Tue, 03 Apr 2012 00:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>antichamberfinanceIndieIndie-fundpcpuzzleTue, 03 Apr 2012 00:15:00 EST<![CDATA[3DS moves 200K+ units after price drop in Japan, hits 1.5m total]]>http://www.joystiq.com/2011/08/16/3ds-moves-200k-units-after-price-drop-in-japan-hits-1-5m-total/http://www.joystiq.com/2011/08/16/3ds-moves-200k-units-after-price-drop-in-japan-hits-1-5m-total/http://www.joystiq.com/2011/08/16/3ds-moves-200k-units-after-price-drop-in-japan-hits-1-5m-total/#comments After a precipitous drop-off in sales, Nintendo dropped the price of the 3DS worldwide and, in Japan at least, the early numbers show a strong consumer response. After enjoying a steep 40 percent discount on August 11 -- from ¥25,000 to ¥15,000 -- 3DS sales spiked up the week of August 8 through 14. Japanese business pub Nikkei pegged sales at 207,000 units while Famitsu publisher slash game publisher slash market research group Enterbrain puts sales a little higher at 214,821 units.

Either way, that's the highest week of sales since the console's February debut, when it managed to move nearly 375K units in a week. As a result, the console has finally clipped past the 1.5 million mark in Japan six months after its release, and just two months after reaching the big million. We'll have to wait a bit longer before we learn how last week's price drop affected sales in Europe and North America.

Joystiq3DS moves 200K+ units after price drop in Japan, hits 1.5m total originally appeared on Joystiq on Tue, 16 Aug 2011 13:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>3DSEnterbrainFamitsuFinancejapannikkeinintendoSci/TechTue, 16 Aug 2011 13:15:00 EST<![CDATA[1.8 million PS3, 1.8 million PSP units sold from April-June]]>http://www.joystiq.com/2011/07/28/1-8-million-ps3-1-8-million-psp-units-sold-from-april-june/http://www.joystiq.com/2011/07/28/1-8-million-ps3-1-8-million-psp-units-sold-from-april-june/http://www.joystiq.com/2011/07/28/1-8-million-ps3-1-8-million-psp-units-sold-from-april-june/#comments Sony announced that it sold 1.8 million PS3s worldwide between April 1 and June 30 (Q1 for Sony), a drop of around 600K from Q1 of FY 2010. Though numbers may have slipped, Sony is still predicting an uptick in sales for the whole of FY 2011: 15 million PS3s as compared to 14.3 in the year prior. On the games side, Sony fared a little better with 26.1 million PS3 games sold versus 24.8 in last year's first three months.

The real success story for Sony's console business is the PSP, which moved 1.8 million systems in the first quarter. That's compared to 700K during the same time period for the Nintendo 3DS and the 1.2 million PSPs sold in Q1 FY 2010.

In closing: Nintendo really needs a Monster Hunter game on 3DS.

Joystiq1.8 million PS3, 1.8 million PSP units sold from April-June originally appeared on Joystiq on Thu, 28 Jul 2011 14:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>earningsfinancefinancialfy-2011playstationps3pspq1q1-2011sonyThu, 28 Jul 2011 14:00:00 EST<![CDATA[Zynga reveals intent to go public]]>http://www.joystiq.com/2011/07/01/zynga-reveals-intent-to-go-public/http://www.joystiq.com/2011/07/01/zynga-reveals-intent-to-go-public/http://www.joystiq.com/2011/07/01/zynga-reveals-intent-to-go-public/#comments Zynga today announced the launch of its new, sure-to-be-massive 'Ville social game, in which players from disparate backgrounds will be able to log on, buy a portion of a company through microtransactions and watch their profits grow!

This new venture differs from other Zynga hits like FarmVille and FrontierVille in just a few key ways.

1. It doesn't actually have "Ville" in the title.
2. Players play with actual, totally real money.
3. Players' company won't necessarily grow. In fact, it may shrink through no fault of their own.
4. The company is Zynga, which made almost $600 million in revenue in 2010.
5. It's not a game, but a stock offering.

OK, so maybe Zynga's filing of an S-1 form, detailing its intent to become a publicly traded company at some point in the future, isn't a new game announcement. But if you guys know of a better way to trick you into reading a story involving both the stock market and casual games, we'd love to hear it.

Continue reading Zynga reveals intent to go public

JoystiqZynga reveals intent to go public originally appeared on Joystiq on Fri, 01 Jul 2011 12:37:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>casualfinanceipomobilepcs-1stock-marketzyngaFri, 01 Jul 2011 12:37:00 EST<![CDATA[Activision CFO Thomas Tippl now COO]]>http://www.joystiq.com/2010/03/30/activision-cfo-thomas-tippl-now-coo/http://www.joystiq.com/2010/03/30/activision-cfo-thomas-tippl-now-coo/http://www.joystiq.com/2010/03/30/activision-cfo-thomas-tippl-now-coo/#comments Acitvision chief financial officer Thomas Tippl was recently promoted to the position of chief operating officer at the publisher, and will serve double duty as temporary acting CFO while a replacement is found. A filing with the Securities and Exchange Commission from last week detailed the executive swap (titled the "Tippl Amendment," effective as of March 23), including an $885k annual salary, stock options, an annual raise "at least equal to the average [undisclosed] percentage increase" (pending approval by the board), and a yearly performance-based bonus of "120 percent of his base salary [$1,062,000]."

The wonderfully candid thing about SEC filings is that there's little room for spin or marketing, but the downside is all the financial jargon -- like the fact that part of Tippl's new contract entitles him to a grant of 225,000 "performance shares" that "vest ratably." This means we're put in a position where we're telling you about stuff that is at the least pretty confusing and likely kind of meaningless. So let's break it down!

"Performance shares" are, according to Investopedia, "shares of company stock given to managers only if certain company wide performance criteria are met, such as earnings per share targets." Meaning, in so many words, that Activision has to meet a certain performance level in order for Tippl to earn said shares. That they will "vest ratably" is only to say that on Feb. 15 of each year for the next four years, he will earn part of that eventual 225,000-share goal (in 2014) ... should he stay in his position for all that time, of course. And finally, this is all based on the prediction that he delivers a higher or equal to non-GAAP earning per share when compared to the previous year. In short, he has to either break even or make money to get the stocks, and he has to maintain that for the next four years. Quite a tall order, sir!

[Via Edge]

JoystiqActivision CFO Thomas Tippl now COO originally appeared on Joystiq on Tue, 30 Mar 2010 12:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>activisionactivision-blizzardblizzardcfochief-financial-officerchief-operating-officercoofinancesecsec-filingsecurities-and-exchange-commissionthomas-tipplTue, 30 Mar 2010 12:30:00 EST<![CDATA[Take-Two revenue up $14m, laying off 15% of execs]]>http://www.joystiq.com/2010/03/03/take-two-revenue-up-14-million-in-fiscal-q1-2010/http://www.joystiq.com/2010/03/03/take-two-revenue-up-14-million-in-fiscal-q1-2010/http://www.joystiq.com/2010/03/03/take-two-revenue-up-14-million-in-fiscal-q1-2010/#comments Take-Two has released its fiscal 2010 Q1 financial report, dropping always thrilling financial news on us about the company's performance between November 1, 2009 and January 31, 2010. Aside from a $13.8 million year-over-year increase in net revenue ($163.2 million this year over $149.4 million last year), Take-Two also reports a diminished net loss (again, year-over-year) to the tune of $20 million.

Take-Two also updated investors on current sales of several games and franchises, with GTA IV chocking up "over 15 million units globally" to date, NBA 2K10 already shipping "over 2 million units," and Carnival Games accruing 6 million units sold worldwide across both Wii and DS platforms. That's gotta be helping with that improved bottom line, eh?

Aside from those highlights, the investor report additionally notes plans for "a targeted restructuring of its corporate departments," resulting in a "15 percent reduction in corporate headcount." More shocking, the "restructuring" (read: layoffs) will amount to "approximately $8 million in savings in fiscal 2010." Holy cow!

JoystiqTake-Two revenue up $14m, laying off 15% of execs originally appeared on Joystiq on Wed, 03 Mar 2010 16:37:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>carnival-gamesearningsfinancefinancialfinancial-reportfy-2010gta-ivlayoffsmoneynba-2k10q1salestake-twotake-two-interactiveWed, 03 Mar 2010 16:37:00 EST<![CDATA[Stargate: Resistance developer files for Chapter 11 bankruptcy]]>http://www.joystiq.com/2010/02/20/stargate-resistance-developer-files-for-chapter-11-bankruptcy/http://www.joystiq.com/2010/02/20/stargate-resistance-developer-files-for-chapter-11-bankruptcy/http://www.joystiq.com/2010/02/20/stargate-resistance-developer-files-for-chapter-11-bankruptcy/#comments Stargate Worlds and Stargate: Resistance developer Cheyenne Mountain Entertainment has suffered the slings and arrows of economic turmoil for months now, leading to a number of unflattering reports about the company's finances. However, it seems the studio is taking steps to get itself back on the right track: A representative for Cheyenne recently announced on its official forums that the developer has filed for Chapter 11 bankruptcy.

In the aforementioned forum post, the representative assured fans of the Stargate games that, should the bankruptcy filing be approved, that the company won't simply shut down while it restructures. He explained, "our entire staff is in-house working on upgrades and expansions for Stargate: Resistance, and we continue to be motivated and excited by the response we've received from our customers." We wish everyone the best of luck with turning the good ship Cheyenne back into more prosperous waters.

JoystiqStargate: Resistance developer files for Chapter 11 bankruptcy originally appeared on Joystiq on Sat, 20 Feb 2010 15:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bankruptcybusinesschapter-11cheyenne-mountain-entertainmentfinancefireskymmommorpgstargate-resistancestargate-worldSat, 20 Feb 2010 15:30:00 EST<![CDATA[Ubisoft reports fiscal Q3 sales of $679 million, hints at unannounced titles]]>http://www.joystiq.com/2010/02/09/ubisoft-reports-fiscal-q3-sales-of-679-million-hints-at-unanno/http://www.joystiq.com/2010/02/09/ubisoft-reports-fiscal-q3-sales-of-679-million-hints-at-unanno/http://www.joystiq.com/2010/02/09/ubisoft-reports-fiscal-q3-sales-of-679-million-hints-at-unanno/#comments Sure, $679 million may sound like a lot of money (it sure does to us!), but when you're a company CEO reporting that number to investors and it's 2.7 percent lower than last year's equivalent time period ($697 million), it's not quite as impressive. And that's just what Ubisoft CEO Yves Guillemot had to do earlier today when the company reported its fiscal Q3 (October 1 through December 31) sales for 2009. Given the publisher's French HQ, we're not privy to the period's revenue until later this year.

In discussing plans for the upcoming year, the company cited "at least seven franchise titles" being launched this year, calling out this morning's (finally) officially-announced Ghost Recon: Future Soldier among others, leaving one (presumably unannounced) title unmentioned. The publisher then indicates "at least two new brands (R.U.S.E. has already been announced)" will see the light of day in 2010 -- leaving one unannounced new brand. Getting murkier yet, it appears "at least 5 online games" will be heading to the information superhighway, though only three are mentioned (yep, you guessed it -- that means two have yet to be revealed). With GDC, PAX East, and E3 not too far off (already?!), there's still plenty of 2010 left for announcements.

JoystiqUbisoft reports fiscal Q3 sales of $679 million, hints at unannounced titles originally appeared on Joystiq on Tue, 09 Feb 2010 13:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>financefinancialsfranchisefy-2009fy-2009-2010fy-2010ghost-recon-future-soldierq3rusesalesubisoftunannouncedyves-guillemotTue, 09 Feb 2010 13:00:00 EST<![CDATA[EA loses $82 million in fiscal Q3 2010, revenue down 25%]]>http://www.joystiq.com/2010/02/08/ea-loses-82-million-in-q3-2010-revenue-down-25-year-over-year/http://www.joystiq.com/2010/02/08/ea-loses-82-million-in-q3-2010-revenue-down-25-year-over-year/http://www.joystiq.com/2010/02/08/ea-loses-82-million-in-q3-2010-revenue-down-25-year-over-year/#comments Right off the bat, you should know this: for EA, losing $82 million in the third quarter of a fiscal year is an enormous improvement. Compared to the same period last year ("Q3" for EA is October 1 - December 31), the company lost 559 million fewer actual physical dollars. Yes, really. Now that we've told you that, we should also note that the publisher pulled in 24.85 percent less revenue year over year (down to $1.243 billion in Q3 2010 from $1.654 billion in Q3 2009). That said, Playfish had "two of the top ten Facebook games" for the quarter! Good thing EA spent $300 million on those folks, eh?

Okay, okay, real talk: the company also points out that it was the "#1 packaged goods publisher in North America and Europe" for its entire fiscal year. CEO John Riccitiello even notes that Mass Effect 2 is "the first blockbuster of 2010." And hey, with 2 million units already shipped, we tend to agree.

JoystiqEA loses $82 million in fiscal Q3 2010, revenue down 25% originally appeared on Joystiq on Mon, 08 Feb 2010 17:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>eaElectronic-Artsfinancefinancial-reportfinancialsfy-2010john-riccitielloprofitsq3revenuesalesMon, 08 Feb 2010 17:40:00 EST<![CDATA[Darksiders rides into 1.2 million homes, THQ recovering financially]]>http://www.joystiq.com/2010/02/03/darksiders-rides-into-1-2-million-homes-thq-financially-recover/http://www.joystiq.com/2010/02/03/darksiders-rides-into-1-2-million-homes-thq-financially-recover/http://www.joystiq.com/2010/02/03/darksiders-rides-into-1-2-million-homes-thq-financially-recover/#comments THQ today announced to investors its financial holdings for the year ending December 31, 2009, reporting a net income of $1.4 million and sales of $701.5 million in the final nine months of the year. To put that in some perspective, the net income for the same period last year was a $334.2 loss. No doubt well-reviewed titles like UFC Undisputed 2009 and (personal favorite) Red Faction: Guerrilla helped that financial 180° turn -- a much needed one after a rocky 2008 and a mess of layoffs in 2009.

The publisher also announced "first four week" sales of Darksiders have already reached 1.2 million in the US (Ahem, Mr. Greenwald? Did you hear that?). Interestingly, THQ called the game part of its "growing portfolio of owned brands," among Red Faction, de Blob, Drawn to Life, and Saint's Row. And with this afternoon's investor call, it would certainly appear we'll be seeing more from that portfolio in the coming year.

JoystiqDarksiders rides into 1.2 million homes, THQ recovering financially originally appeared on Joystiq on Wed, 03 Feb 2010 17:55:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>darksidersde-blobdrawn-to-lifeearningsfinanceincomeinvestorMicrosoftmoneyred-factionred-faction-guerrillasaints-rowthqufc-undisputed-2009Xbox-360Wed, 03 Feb 2010 17:55:00 EST<![CDATA[Report: Codemasters to secure new investor amid financial woes]]>http://www.joystiq.com/2010/01/20/report-codemasters-to-secure-new-investor-amid-financial-woes/http://www.joystiq.com/2010/01/20/report-codemasters-to-secure-new-investor-amid-financial-woes/http://www.joystiq.com/2010/01/20/report-codemasters-to-secure-new-investor-amid-financial-woes/#comments According to a recent report from the Times Online, UK-based publisher Codemasters is "close to securing" a new investor and will announce the mysterious source "shortly." The news is said to be paired with an upcoming balance sheet restructuring -- a necessity, we imagine, after less than huge releases last year like Operation Flashpoint: Dragon Rising, Fuel, and Damnation.

The report also indicates that current investors Balderton Capital and Goldman Sachs will "inject new funds" into the publisher, seemingly holding steadfast in their efforts to build up Codemasters as a major publisher in the global market. The two investment firms have already sunk £100 million ($163.3 million) into the company, so, um, well, maybe they know something we don't? We sure hope that's the case -- we certainly wouldn't want any of our golf buddies at Goldman Sachs to lose their bonuses.

JoystiqReport: Codemasters to secure new investor amid financial woes originally appeared on Joystiq on Wed, 20 Jan 2010 01:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>balderton-capitalbusinesscodemasterscodiesdamnationfinancefuelgoldman-sachsmoneyoperation-flashpointoperation-flashpoint-dragon-risingreportWed, 20 Jan 2010 01:00:00 EST<![CDATA[Video: Pandemic goes out with a bang, 'Office Space' style]]>http://www.joystiq.com/2009/11/23/video-pandemic-goes-out-with-a-bang-office-space-style/http://www.joystiq.com/2009/11/23/video-pandemic-goes-out-with-a-bang-office-space-style/http://www.joystiq.com/2009/11/23/video-pandemic-goes-out-with-a-bang-office-space-style/#comments There's no two ways about it: having your studio shut down does not feel good. However, it does feel good to be a gangsta. Damn good. To prove this ancient adage, some former Pandemic employees put together a little Office Space-inspired video to honor the house that brought us Mercenaries, the Star Wars Battlefront series and the upcoming release, The Saboteur.

Kotaku reports that the mercilessly destroyed printer was, in fact, used by the Saboteur team, giving the video an extra layer of sweet vengeance. A word to EA: if you're missing any red Swingline staplers, we might know where they are. Watch the (very NSFW) video after the break.

Continue reading Video: Pandemic goes out with a bang, 'Office Space' style

JoystiqVideo: Pandemic goes out with a bang, 'Office Space' style originally appeared on Joystiq on Mon, 23 Nov 2009 14:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>closureeaElectronic-ArtsfinancelayoffspandemicPandemic-StudiosrevengeMon, 23 Nov 2009 14:15:00 EST<![CDATA[Sony expects PSN to pull in 50 billion yen in FY 2009]]>http://www.joystiq.com/2009/11/20/sony-expects-psn-to-pull-in-50-billion-yen-in-fy-2009/http://www.joystiq.com/2009/11/20/sony-expects-psn-to-pull-in-50-billion-yen-in-fy-2009/http://www.joystiq.com/2009/11/20/sony-expects-psn-to-pull-in-50-billion-yen-in-fy-2009/#comments Though yesterday's Sony investor's conference featured a concerning reference to the PSN's "new revenue stream from subscription," another slide from the presentation seems to indicate that the platform is already making money hand over fist. According to the slide (seen above), the company has set a lofty goal for the current fiscal year: It expects the PSN to bring in ¥50 billion (roughly $561 million) in revenue by the end of FY 2009. That's three times the amount of cash collected by the platform in the last fiscal year.

Exactly how Sony plans to boost its revenues so drastically is outlined by other statistics on the slide. According to the company's calculations, the PSN currently has 33 million registered users, 1.4 million of which visit the PlayStation Store on a daily basis. We fall into the latter group -- but only because we can't stop window shopping for celebrities we can fling into oncoming traffic. We confess: It's one of our dirtiest, guiltiest pleasures.

Source - "Media / Investor Conference - November 19th 2009" [PDF]

JoystiqSony expects PSN to pull in 50 billion yen in FY 2009 originally appeared on Joystiq on Fri, 20 Nov 2009 13:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>conferencefinancefy-2009playstation-storepresentationpsnrevenuesonyFri, 20 Nov 2009 13:00:00 EST<![CDATA[Funcom posts $9.6 million loss in Q3 2009]]>http://www.joystiq.com/2009/11/18/funcom-posts-9-6-million-loss-in-q3-2009/http://www.joystiq.com/2009/11/18/funcom-posts-9-6-million-loss-in-q3-2009/http://www.joystiq.com/2009/11/18/funcom-posts-9-6-million-loss-in-q3-2009/#comments Following a round of layoffs, a delay for one of its most anticipated titles and continuing reports of the player decline of Age of Conan, we knew that Norwegian developer Funcom wasn't in the best shape. Earlier today, the company posted its Q3 financial results and confirmed our suspicions: The company's reporting a $9.6 million loss for the third quarter of this year. Compared to the company's $3.3 million profit from the same period last year, that's a pretty disheartening decline.

With an expansion for Age of Conan and the ever-intriguing The Secret World presumably due out next year, and (according to a September 30 finance report) $34.8 million in the bank, Funcom's far from down and out. However, until one of those titles hits store shelves, things are probably going to get considerably less fun for Funcom.

JoystiqFuncom posts $9.6 million loss in Q3 2009 originally appeared on Joystiq on Wed, 18 Nov 2009 03:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>age-of-conanbusinessdeclinefinancefuncommoneyprofitthe-secret-worldWed, 18 Nov 2009 03:15:00 EST<![CDATA[Pandemic closes physical doors, brand lives on]]>http://www.joystiq.com/2009/11/17/pandemic-closes-physical-doors-brand-lives-on/http://www.joystiq.com/2009/11/17/pandemic-closes-physical-doors-brand-lives-on/http://www.joystiq.com/2009/11/17/pandemic-closes-physical-doors-brand-lives-on/#comments We've got a little more perspective on the closing of Pandemic, which was rumored earlier today. Though the studio will physically close, and the majority of its staff (some 200 people) will be sacked, the brand and IPs (like Mercenaries, Star Wars: Battlefront and The Saboteur) will continue, EA representative Holly Rockwood told Joystiq. Founders Josh Resnick, Andrew Goldman, Greg Borrud will leave the company.

A lucky few from Pandemic will continue the studio's work under the EALA roof in Playa Vista, reporting to GM Sean Decker. Here's hoping that those who aren't as fortunate won't have to go too long without work.

JoystiqPandemic closes physical doors, brand lives on originally appeared on Joystiq on Tue, 17 Nov 2009 15:12:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>closureeaealaeconomyElectronic-ArtsfinancelayoffspandemicTue, 17 Nov 2009 15:12:00 EST<![CDATA[Best Buy CFO sees 'opportunity' in used games market [update]]]>http://www.joystiq.com/2009/09/21/best-buy-cfo-sees-opportunity-in-used-games-market/http://www.joystiq.com/2009/09/21/best-buy-cfo-sees-opportunity-in-used-games-market/http://www.joystiq.com/2009/09/21/best-buy-cfo-sees-opportunity-in-used-games-market/#comments
Speculation among industry analysts has amplified surrounding the possible purchase of meganormous video game retailer GameStop by big box electronics/media retailer Best Buy. The Dow Jones Newswire (via the Wall Street Journal) followed up with Best Buy CFO Ryan Robinson recently, who, unsurprisingly, wouldn't directly comment.

He responds, however, by saying that his company hasn't been taking advantage of the used game market in the way some competitors are. "We've not developed the capability to the extent that other participants have," Robinson says, calling the used game business a "very margin-rich portion" of the game sales market, and adding, "there's opportunity in that business." Opportunity that Best Buy clearly saw fit enough to enterprise on with a foray into used games in 2005 and another this year -- heck, they even price match new game prices with used game ones every now and then.

Still, Best Buy outright purchasing GameStop would be a real stretch, says BloggingStocks.com. "There's no overlooking the roughly $4.2 billion it would cost to buy up Gamestop, and Best Buy doesn't have that much cash," the piece claims, saying Best Buy wouldn't see a return on the investment "any time soon." We've reached out to Best Buy for comment and have yet to hear back as of publication.

Update: A Best Buy representative got back to us with the stock, "We don't comment on rumors or speculation."

[Via Kotaku]

JoystiqBest Buy CFO sees 'opportunity' in used games market [update] originally appeared on Joystiq on Mon, 21 Sep 2009 21:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>best-buybloggingstocks.combusinessfinancegamestopretailryan-robinsonused-gameswall-street-journalMon, 21 Sep 2009 21:30:00 EST<![CDATA[Take-Two not expecting profitability for fiscal '09]]>http://www.joystiq.com/2009/07/13/take-two-not-expecting-profitability-for-fiscal-09/http://www.joystiq.com/2009/07/13/take-two-not-expecting-profitability-for-fiscal-09/http://www.joystiq.com/2009/07/13/take-two-not-expecting-profitability-for-fiscal-09/#comments
Take-Two held a conference call, following the disappointing news of BioShock 2's delay, to update investors on its current financial situation. With BioShock's absence, Take-Two's holiday sales will rely on Borderlands, Grand Theft Auto: The Ballad of Gay Tony and the PSP version of Grand Theft Auto: Chinatown Wars. While all are arguably high-profile titles, none are expected to generate the kind of revenue as a brand new BioShock title -- and that's going to hurt Take-Two's bottom line.

Like many other publishers suffering from the economic depression, Take-Two has confirmed the company will not be able to achieve profitability for the fiscal 09 year. While specific figures were not released during the call, the company once again reiterated that its outlook for fiscal '10 is far more positive, expecting profit "without a new multiplatform Grand Theft Auto release."

Touting a lineup that includes Max Payne 3, BioShock 2 and a number of "unannounced titles" for release in late 2010, analyst Jesse Divnich of EEDAR agrees. "The news of BioShock 2 being delayed into fiscal 2010 has drastically changed my view on the Take-Two. I originally anticipated that Take-Two would outperform the industry in fiscal 2010. Now, I expect them to dominate fiscal 2010."

JoystiqTake-Two not expecting profitability for fiscal '09 originally appeared on Joystiq on Mon, 13 Jul 2009 17:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>eedarfinancejesse-divnichtake-twoMon, 13 Jul 2009 17:45:00 EST<![CDATA[Buying Activision Blizzard stock may be too extreme for you]]>http://www.joystiq.com/2009/07/13/buying-activision-blizzard-stock-may-be-too-extreme-for-you/http://www.joystiq.com/2009/07/13/buying-activision-blizzard-stock-may-be-too-extreme-for-you/http://www.joystiq.com/2009/07/13/buying-activision-blizzard-stock-may-be-too-extreme-for-you/#comments
Where does USA Today analyst Matt Krantz turn when he needs to hear blood rushing past his ears at 1,000 heartbeats per minute as he takes life to the edge? Why, investing in video games, naturally. "Just as Activision's games are for thrill seekers, the stock is, too," he wrote in a recent analysis of the company. "Investing in Activision shares will be filled with excitement, fear and suspense." Slow down, Matt, our adrenal glands just melted!

If you're up to it, you can read Krantz's full analysis of the stock right here. Or you can really push the thrill envelope and guzzle that cup of Starbucks that was super hot when you purchased it 30 minutes ago without sipping to see if it cooled. WOOOAAHHHH!

[Image credit: Tyla'75]

JoystiqBuying Activision Blizzard stock may be too extreme for you originally appeared on Joystiq on Mon, 13 Jul 2009 13:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>activisionactivision-blizzardfinancestockstaking-it-to-the-edgeusa-todayMon, 13 Jul 2009 13:00:00 EST<![CDATA[Ubisoft's net profit declined 37 percent in past fiscal year]]>http://www.joystiq.com/2009/05/29/ubisofts-net-profit-declined-37-percent-in-past-fiscal-year/http://www.joystiq.com/2009/05/29/ubisofts-net-profit-declined-37-percent-in-past-fiscal-year/http://www.joystiq.com/2009/05/29/ubisofts-net-profit-declined-37-percent-in-past-fiscal-year/#comments
It's time for another installment of "Sales Go Up, Profit Goes Down," the completely perplexing economic phenomenon that's been taking the gaming industry by storm as of late. Today's contestant is Ubisoft, who in April reported a 14 percent annual sales increase over the past fiscal year, from €928.3 million to €1.06 billion, yet recently revealed it had experienced a 37 percent (or €31 million) decrease in net profit during FY 2008.

This might sound bad, but Ubisoft CEO Yves Guillemot said during a recent investor conference call he was pleased his company could, "offer superior quality games, while maintaining a high level of profitability." Oh, let's not forget the company's projected €1.1 billion sales target for the next fiscal year. With the amount of stuff the developer is working on, figures that huge wouldn't surprise us.

JoystiqUbisoft's net profit declined 37 percent in past fiscal year originally appeared on Joystiq on Fri, 29 May 2009 00:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>financefinancial-reportfiscal-yearprofitsalesubisoftyves-guillemotFri, 29 May 2009 00:30:00 EST<![CDATA[Krome CEO: Developer budgets have increased more than games market]]>http://www.joystiq.com/2009/05/26/krome-ceo-developer-budgets-have-increased-more-than-games-mark/http://www.joystiq.com/2009/05/26/krome-ceo-developer-budgets-have-increased-more-than-games-mark/http://www.joystiq.com/2009/05/26/krome-ceo-developer-budgets-have-increased-more-than-games-mark/#comments
Sure, everything's all sunshine and daffodils in the ever-expanding video game market, right? Wrong. Dead wrong, mister. While stories to that effect might seem to inspire hope in the gaming industry's seemingly impervious leaders, indie developer Krome's CEO Robert Walsh thinks the gaming press has missed out on an important fact impacting the modern development scene -- developer's budgets "have probably doubled or tripled during the console transition."

To put Walsh's entire argument (which he made in an interview with Develop) into simple terms, the gaming industry is raking in a bajillion dollars annually, but the current console generation has made developing games astronomically more expensive than it has been in the past. Like, a hojillion dollars more expensive. Seeing as how a hojillion is more than a bajillion (of course), developers aren't really seeing a major financial boon from the burgeoning industry. Which really sucks for them.

JoystiqKrome CEO: Developer budgets have increased more than games market originally appeared on Joystiq on Tue, 26 May 2009 19:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>budgetdeveloperfinanceindustrykromemarketrobert-walshTue, 26 May 2009 19:15:00 EST<![CDATA[Take-Two reveals declining Q2 financial results]]>http://www.joystiq.com/2009/05/26/take-two-reveals-declining-q2-financial-results/http://www.joystiq.com/2009/05/26/take-two-reveals-declining-q2-financial-results/http://www.joystiq.com/2009/05/26/take-two-reveals-declining-q2-financial-results/#comments
Gaming industry juggernaut Take-Two Interactive recently released its second quarter financial results (among other things), and as one might expect, the outlook isn't quite as rosy as Q2 of last year. With the release of Grand Theft Auto IV, Q2 2008 brought the publisher a net income of $98.2 million, or $1.29 per share -- this year, with no GTA IV to lean on, the company experienced a net loss of $10.1 million, or $0.13 per share. Not disastrous, but not exactly a celebration-worthy fiscal quarter, either.

Combined with Q1, the first half of 2009 has brought Take-Two a net loss of $60.5 million -- a harsh contrast to the first half of 2008, when the company raked in a net income of $60.2 million. The report also highlighted Take-Two's top selling products over the past three months -- unsurprisingly, they included The Lost and Damned, Major League Baseball 2K9, Grand Theft Auto IV and GTA: Chinatown Wars. For more delicious, nigh-incomprehensible numerals, you can read the full report here.

JoystiqTake-Two reveals declining Q2 financial results originally appeared on Joystiq on Tue, 26 May 2009 17:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>financefinancial-reportq2reportsalestake-twotake-two-interactiveTue, 26 May 2009 17:15:00 EST<![CDATA[Konami posts record sales for previous fiscal year]]>http://www.joystiq.com/2009/05/14/konami-posts-record-sales-for-previous-fiscal-year/http://www.joystiq.com/2009/05/14/konami-posts-record-sales-for-previous-fiscal-year/http://www.joystiq.com/2009/05/14/konami-posts-record-sales-for-previous-fiscal-year/#comments
Never, ever doubt the interminable power of a long-running football franchise or the appeal of mustachioed super spies. Konami just posted its sales figures for this past fiscal year (ending March 31, 2009), and it certainly seems it'll have an achievement worthy of hanging on mom's fridge. The company's total sales for the year reached a record sum of 309,771 million yen (or $3.25 billion, £2.15 billion), a year-over-year increase of 4.2 percent.

Konami's net income actually fell 40.7 percent from last year, though its Digital Entertainment division (you know, the one that makes games) actually did quite well on its own -- it's operating revenue increased 123.4 percent for a total of 3,447 million yen last year. Allow us to convert that for you: It's a freaking ton of $s and £s.

JoystiqKonami posts record sales for previous fiscal year originally appeared on Joystiq on Thu, 14 May 2009 16:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>financefiscal-yearkonamimetal-gear-solidmoneypro-evolution-soccersaleswinning-elevenThu, 14 May 2009 16:15:00 EST<![CDATA[Game industry veteran founds financial service firm for indie developers]]>http://www.joystiq.com/2009/04/29/game-industry-veteran-founds-financial-service-firm-for-indie-de/http://www.joystiq.com/2009/04/29/game-industry-veteran-founds-financial-service-firm-for-indie-de/http://www.joystiq.com/2009/04/29/game-industry-veteran-founds-financial-service-firm-for-indie-de/#comments
Garry Tucker has an impressive catalog of positions he's held in the gaming industry. He's filled managerial roles for Take-Two, Activision, Acclaim and Virgin Interactive, and served as finance director for Kuju Games. As far as careers in the industry go, Tucker's had a posh one -- and now, he's using his acquired know-how to lend a hand to the little guy.

Tucker recently founded Eightbyte, a London-based financial planning firm designed specifically for independent game developers. Along with offering general financial mentoring and support, Eightbyte will allow indie devs to outsource their bookkeeping duties so they can focus solely on finishing their groundbreaking high-art 2D platformer. According to a Gamasutra report, the firm is only offering assistance to UK devs for now, though Tucker says they have plans to expand.
[Image]

JoystiqGame industry veteran founds financial service firm for indie developers originally appeared on Joystiq on Wed, 29 Apr 2009 05:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>eightbytefinancefinancial-planninggarry-tuckerindependentindiemoneyWed, 29 Apr 2009 05:00:00 EST<![CDATA[Sacred 2 developer goes bankrupt]]>http://www.joystiq.com/2009/04/20/sacred-2-developer-goes-bankrupt/http://www.joystiq.com/2009/04/20/sacred-2-developer-goes-bankrupt/http://www.joystiq.com/2009/04/20/sacred-2-developer-goes-bankrupt/#comments
Though it's finally been dated, dungeon crawler Sacred 2 has been plagued by delays. Today comes a reminder that getting it right often comes with a price. Developer Ascaron Entertainment confirmed to Gamespot that the company has declared bankruptcy in Germany after a four-year development period on the game.

The news isn't all bad: The move isn't expected to effect the game's release and and the company has met with "several well-known interested parties to discuss a positive takeover." Here's hoping the final damage is as minimal as possible.

JoystiqSacred 2 developer goes bankrupt originally appeared on Joystiq on Mon, 20 Apr 2009 19:50:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>ascaron-entertainmentbankruptcycdvfinancesacred-2Mon, 20 Apr 2009 19:50:00 EST<![CDATA[Things are still good for GameStop ... we think]]>http://www.joystiq.com/2009/04/17/things-are-still-good-for-gamestop-we-think/http://www.joystiq.com/2009/04/17/things-are-still-good-for-gamestop-we-think/http://www.joystiq.com/2009/04/17/things-are-still-good-for-gamestop-we-think/#comments
We can remember snoozing through ECON 101, confident that we'd never need any of that garbage. No sir, we were going to write about video games. We didn't care about "earnings" and "projections." It's in times like these we see how horrifyingly wrong we were.

"GameStop is reaffirming its first quarter comparable store sales guidance of flat to +2% and earnings per share guidance of $0.40 to $0.42. Full year comparable store sales guidance remains +4% to +6% and full year earnings guidance is still expected to increase between +18% and +22%."

That's the release, but we have absolutely no idea what that means. We see some pluses, that's what you want, right? We mean ... they're better than minuses.

JoystiqThings are still good for GameStop ... we think originally appeared on Joystiq on Fri, 17 Apr 2009 16:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>earningsfinancegamestopFri, 17 Apr 2009 16:00:00 EST<![CDATA[Sony freezes staff wages, lowers bonuses [Update]]]>http://www.joystiq.com/2009/03/19/sony-freezes-staff-wages-lowers-bonuses/http://www.joystiq.com/2009/03/19/sony-freezes-staff-wages-lowers-bonuses/http://www.joystiq.com/2009/03/19/sony-freezes-staff-wages-lowers-bonuses/#comments According to Japanese newspaper Nikkei, Sony Corporation (of which Sony Computer Entertainment is a part) has said that it is freezing staff wages across the board, in order to combat the economic crisis. The freeze will occur during the fiscal year starting April 2009. In an attempt to further cut costs, bonuses will also be cut from six months worth of pay to four months. Managers will be hit even harder, with annual compensation cut from between 10% and 20% and bonuses snipped by between 35% and 40%.

The company is expected to announce a loss of $2.65 billion for the current year. Hopefully, these substantial cost reductions will allow Sony to stay in the black in FY 2009. We're sure Sony's many employees will agree that having their wages frozen isn't that bad, given the alternative.

Update: SCEE adds that its employees are unaffected by this announcement.

[Via MCV]

JoystiqSony freezes staff wages, lowers bonuses [Update] originally appeared on Joystiq on Thu, 19 Mar 2009 09:45:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businessfinanceSonyThu, 19 Mar 2009 09:45:00 EST<![CDATA[Get fired for playing Layoff: The Game]]>http://www.joystiq.com/2009/03/18/get-fired-for-playing-layoff-the-game/http://www.joystiq.com/2009/03/18/get-fired-for-playing-layoff-the-game/http://www.joystiq.com/2009/03/18/get-fired-for-playing-layoff-the-game/#comments
One of the first things we were going to do as soon as we became super-private-island rich was to create a giant chess game where the pieces were played by people. Well, we were actually planning on man-sized Bejeweled, because chess so often makes our think-meat sore.

Tragically, we've been beaten to the punch by tiltfactor's new release, Layoff: The Game, which lets you save companies billions by laying off matching sets of workers. We suspect there's a deeper message to be taken away from it, but we're a little busy wondering how we're going to make man-sized Zuma.

[Via Game Politics]

JoystiqGet fired for playing Layoff: The Game originally appeared on Joystiq on Wed, 18 Mar 2009 08:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>economyfinancelayofflayoff-the-gamepcserious-gamestiltfactorWed, 18 Mar 2009 08:00:00 EST<![CDATA[[Insert new headline about Midway losing money here]]]>http://www.joystiq.com/2009/03/03/insert-new-headline-about-midway-losing-money-here/http://www.joystiq.com/2009/03/03/insert-new-headline-about-midway-losing-money-here/http://www.joystiq.com/2009/03/03/insert-new-headline-about-midway-losing-money-here/#comments
[From the Joystiq accounting department: In an effort to conserve funds in these tough times, we've cobbled together this story about Midway losing money from fragments of other stories about Midway losing money, with a minimum of editing and the small bit of news bolded. Thank you for your patience during these trying times.]

As pillars continue to topple all around Midway, the company has begun to search for new ways to [1] plan for survival in its continuing struggle to keep its head above water [2]. But for every small chance at redemption Midway Games finds, there seems to be another piece of bad news hiding around the corner. The latest nugget of news is that [3] budgets estimate that between February 9 and May 4, Midway will spend $12,392,598, an approximately 75% depletion of its reserves.

Midway owner ... relatively unknown Mark Thomas [4] says "Midway is hemorrhaging cash at an alarming rate," though we're sure the words he was really looking for were complicated and terrifying [5]. When things are going south as quickly as they have gone for Midway, you take your victories where you can [6], they have already shipped 1.8 million copies of Mortal Kombat vs. DC Universe! [7]

Joystiq[Insert new headline about Midway losing money here] originally appeared on Joystiq on Tue, 03 Mar 2009 11:02:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bankruptcyeconomyfinancemark-thomasmidwaymortal-kombatTue, 03 Mar 2009 11:02:00 EST<![CDATA[Square Enix stock drops to a five-year low]]>http://www.joystiq.com/2009/02/06/square-enix-stock-drops-to-a-five-year-low/http://www.joystiq.com/2009/02/06/square-enix-stock-drops-to-a-five-year-low/http://www.joystiq.com/2009/02/06/square-enix-stock-drops-to-a-five-year-low/#comments
It's enough to enlimpen even the most over-moussed hair spikes, and rustify the most well-polished gun-that's-a-sword-that's-also-a-magic-wand: Square Enix's stock has fallen to a five-year low according to Bloomberg. As of this morning, the stock had dropped 11% to ¥1,936 on the Tokyo Stock Exchange.

In other news that doesn't bode well for the company, Square has moved the date for reporting its earnings from today to February 13. We've been told we can expect president Yoichi Wada to take the stage, announce "Not a lot!" with a cute little half-shrug and give himself a high-five. In other news: OhGodtheworldeconomyiscollapsing! Buyallthepreciousmetalsyoucanfind!

[Via GI.biz]

JoystiqSquare Enix stock drops to a five-year low originally appeared on Joystiq on Fri, 06 Feb 2009 11:43:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businesseconomyfinancesquare-enixstocksFri, 06 Feb 2009 11:43:00 EST<![CDATA[EA stock responds to bad news with 14 percent growth]]>http://www.joystiq.com/2009/02/04/ea-stock-responds-to-bad-news-with-14-percent-growth/http://www.joystiq.com/2009/02/04/ea-stock-responds-to-bad-news-with-14-percent-growth/http://www.joystiq.com/2009/02/04/ea-stock-responds-to-bad-news-with-14-percent-growth/#comments
It seems like EA's stock price may just be a masochist. After EA unleashed the pain of an underperforming quarter, the company's stock responded today by rising as high as $17.60, a 13.5 percent increase from yesterday. Hurts so good indeed. Well, not for these guys and girls. But you get the idea.

See, we knew releasing a bunch of untested IPs would be good for EA! We just didn't know the help would be quite so ... indirect.

JoystiqEA stock responds to bad news with 14 percent growth originally appeared on Joystiq on Wed, 04 Feb 2009 16:48:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businesseaElectronic-Artsfinancestockstock-priceWed, 04 Feb 2009 16:48:00 EST<![CDATA[Zelnick: It's not a financial crisis, just a 'car crash']]>http://www.joystiq.com/2008/12/05/zelnick-its-not-a-financial-crisis-just-a-car-crash/http://www.joystiq.com/2008/12/05/zelnick-its-not-a-financial-crisis-just-a-car-crash/http://www.joystiq.com/2008/12/05/zelnick-its-not-a-financial-crisis-just-a-car-crash/#commentsFiled under:


While talking up better-than-expected Black Friday sales at a Reuters Media Summit in New York, Take-Two Chief Executive Strauss Zelnick took a moment to tackle the global financial situation and its effect on the games industry. "I think everyone was encouraged by Black Friday," Zelnick said. "It was better than expectations, but it's pretty hard these days -- being slightly down is the new up."

However, the Men's Fitness flexer refused to label the situation as a "financial crisis," opting instead for an intricate allegory from the Hideo Kojima School of Convoluted Comparison. "We're still seeing the car crash, and the ambulences [sic] are still showing up at the scene," he posited. "Maybe we're in the emergency room, but we're not even in the intensive care unit yet for a lot of these companies. But they will get there."

But do we have an appropriate health plan? Are we under a general anesthetic? How long is the organ donor list? When we flatline, will we be haunted by the ghosts of all the kids we bullied at school?

Source -- "Zelnick: Welcome to the emergency room"
Source -- "Black Friday sales better than expected"

JoystiqZelnick: It's not a financial crisis, just a 'car crash' originally appeared on Joystiq on Fri, 05 Dec 2008 19:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>FinanceGrand-Theft-AutoGrand-Theft-Auto-IVGTA-IVSomething-About-AmbulancesStrauss-ZelnickTake-TwoFri, 05 Dec 2008 19:58:00 EST<![CDATA[Eh?: Nintendo developing game about the economy]]>http://www.joystiq.com/2008/11/05/eh-nintendo-developing-game-about-the-economy/http://www.joystiq.com/2008/11/05/eh-nintendo-developing-game-about-the-economy/http://www.joystiq.com/2008/11/05/eh-nintendo-developing-game-about-the-economy/#commentsFiled under:


Nintendo is teaming up with Tokyo stock market index Nikkei to develop a game that teaches us about the incomprehensible mystery that is the economy. Virtually nothing is known about the new title, except that it will make learning about the economy "fun," contain quizzes to test your newly acquired knowledge, and feature controls that are touchscreen-based. No longer will you have to make up awkward excuses to leave social gatherings early when the words "Dow Jones" pop up.

While obviously topical, the economy seems like an unusually dry subject for Nintendo to base a game on, even moreso than math. Still, if Sega can make a game about business fun, so can Nintendo. Also, is this a sign that Miyamoto's latest obsession is dabbling in shares?

[Via Eurogamer]

JoystiqEh?: Nintendo developing game about the economy originally appeared on Joystiq on Wed, 05 Nov 2008 15:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businesseconomyfinancetrainingWed, 05 Nov 2008 15:30:00 EST<![CDATA[Nintendo shares on the rise again]]>http://www.joystiq.com/2008/08/29/nintendo-shares-on-the-rise-again/http://www.joystiq.com/2008/08/29/nintendo-shares-on-the-rise-again/http://www.joystiq.com/2008/08/29/nintendo-shares-on-the-rise-again/#commentsFiled under: ,

You can barely move in the blogosphere without bumping into another "Nintendo is rich" story, and we're not about to help matters -- sorry.

Anyway, the skinny is that Nintendo shares have soared after the company upped its full-year profit forecast by 26%. It now anticipates that it will sell 26.5 million Wiis (surely taking it past the N64's lifetime sales of approximately 33 million by year end) and 30.5 million DSes during 2008. Ninty also reckons that in the year ending March 31, net income will climb 59 percent to $3.8 billion, a.k.a. a lot of frickin' wonga.

This news does represent a mini-turnaround of sorts in Nintendo's financial fortunes -- before today, the company's stock had fallen 17% since July 30th, but the latest renewed forecast has seen shares boosted by 8.4%. Now if only we'd actually bought some in the late-'90s. Bah. Oh well, clink those champagne glasses, everybody!

[Via NeoGAF]

JoystiqNintendo shares on the rise again originally appeared on Joystiq on Fri, 29 Aug 2008 16:25:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businessfinanceforecastsharesstockFri, 29 Aug 2008 16:25:00 EST<![CDATA[Nintendo makes boatloads of money during fiscal Q1 [update]]]>http://www.joystiq.com/2008/07/30/nintendo-makes-boatloads-of-money-during-fiscal-q1/http://www.joystiq.com/2008/07/30/nintendo-makes-boatloads-of-money-during-fiscal-q1/http://www.joystiq.com/2008/07/30/nintendo-makes-boatloads-of-money-during-fiscal-q1/#commentsFiled under:

To the surprise of, well, no one, Nintendo had a pretty stellar first fiscal quarter of 2008, raking in a net profit of nearly 1 billion dollars (107.2 billion yen). Wii hardware was responsible for $5.17 million of that profit, which is an increase of almost $1.75 million from last year's fiscal Q1. Meanwhile, Wii software raked in $40.41 million (up $24.42 million).

Mario Kart Wii and Wii Fit were part of the reason for this software success, since in the quarter Wii Fit sold 3.42 million copies and Mario Kart sold a whopping 6.42 million units. And, if you weren't yet convinced that Nintendo deserves the "printing money" meme, the company is projected to bring in a net profit of about $3 billion dollars for the year.

We don't know about you, but our own wallets and bank accounts are growling with envy.

Update: Fixed some typos. Thanks for the heads up, Sonic_13!

[Via NeoGAF]

JoystiqNintendo makes boatloads of money during fiscal Q1 [update] originally appeared on Joystiq on Wed, 30 Jul 2008 15:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businessfinancefiscal-quarterfiscal-resultsmario-kartmario-kart-wiimoneyq1wii-fitWed, 30 Jul 2008 15:00:00 EST<![CDATA[PS3 is EA's biggest source of income]]>http://www.joystiq.com/2008/07/30/ps3-raking-in-the-big-bucks-for-ea/http://www.joystiq.com/2008/07/30/ps3-raking-in-the-big-bucks-for-ea/http://www.joystiq.com/2008/07/30/ps3-raking-in-the-big-bucks-for-ea/#commentsFiled under: ,

EA released their incredibly dry Q1 financial report for investors last night. Nestled amongst the self-congratulations and expectations for the future lie some interesting numbers regarding console-specific income. Put bluntly, the PS3 is EA's largest source of income right now, and has been since the beginning of 2008. Not bad for a console Riccitiello regrets backing.

For those of you who can't get enough of numbers, here's a breakdown how much, in millions, each console brought to the EA table at the end of Q1 2008 (April - June) . Bracketed numbers show the amount of income generated during the same period last year, followed by the percentage increase. For more details, including plenty of fun tabulated data, check out the report for yourself.

PS3: 139mln (13mln, 969%)
360: 81mln (47mln, 72%)
PS2: 79mln (61mln, 30%)
Wii: 57mln (29mln, 97%)

[Via Eurogamer]

JoystiqPS3 is EA's biggest source of income originally appeared on Joystiq on Wed, 30 Jul 2008 10:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businesseafinancemoneyWed, 30 Jul 2008 10:00:00 EST<![CDATA[Pachter: Nintendo financial earnings greater than expected]]>http://www.joystiq.com/2008/07/28/pachter-nintendo-financial-earnings-greater-than-expected/http://www.joystiq.com/2008/07/28/pachter-nintendo-financial-earnings-greater-than-expected/http://www.joystiq.com/2008/07/28/pachter-nintendo-financial-earnings-greater-than-expected/#commentsFiled under:

Michael Pachter is of the mind that Nintendo made a whole ton of money during the second quarter. Nintendo is supposed to release figures on the 30th, but that hasn't stopped Pachter and Wedbush Morgan from coming up with some figures of their own. Pachter says the company will report earnings of ¥421 billion ($3.91 billion) and raise their yearly estimate to ¥1,907 billion ($17.7 billion).

"Nintendo's recent financial performance has been spectacular and we expect this to continue in FY:09," Pachter commented, going on further to state that "Nintendo's Wii and DS appear to be selling even better in FY:09 than in FY:08, and we believe the momentum will last through the end of FY:09." This is likely due to some smart advertising campaigns, which had female celebs showing off how awesome the handheld is. Plus, you know, the handheld has tons of amazing games.

JoystiqPachter: Nintendo financial earnings greater than expected originally appeared on Joystiq on Mon, 28 Jul 2008 21:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businessfinancemichael-pachtermoneypachtersaleswedbush-morganMon, 28 Jul 2008 21:00:00 EST