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 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[3DS sold under cost since price cut, Nintendo 'hoping' to profit by March 2013]]>http://www.joystiq.com/2012/04/26/3ds-sold-under-cost-since-price-cut-nintendo-hoping-to-profit/http://www.joystiq.com/2012/04/26/3ds-sold-under-cost-since-price-cut-nintendo-hoping-to-profit/http://www.joystiq.com/2012/04/26/3ds-sold-under-cost-since-price-cut-nintendo-hoping-to-profit/#comments Nintendo took a big hit last year when it dropped the price of its then-nascent handheld, the 3DS, to $170 just a few months after initial launch. Such a hit, apparently, that Nintendo is selling the unit for less than it costs the company to produce, as revealed in the company's latest financial earnings. "Its hardware has been sold below cost because of its significant price cut in the fiscal year ended March 31, 2012," the financial report says.

But don't count Nintendo out! The company says it "expects to cease selling it below cost by the middle of the fiscal year ending March 31, 2013." Which, in normal human terms, means Nintendo expects to start making money on the console around August of this year. So, you know, if you're really trying to stick it to Nintendo, go buy the 3DS between now and August. That'll show 'em!

The 3DS currently sells for $170, down from the $250 price tag it launched with back March of 2011.

Update: We've added context from financial analyst extraordinaires Michael Pachter (of Wedbush Securities) and Jesse Divnich (of EEDAR) just below the break.

Continue reading 3DS sold under cost since price cut, Nintendo 'hoping' to profit by March 2013

Joystiq3DS sold under cost since price cut, Nintendo 'hoping' to profit by March 2013 originally appeared on Joystiq on Thu, 26 Apr 2012 09:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>3dscosteedarfinancial-reportfinancialsjesse-divnichmichael-pachternintendoprofitssaleswedbushwedbush-morganwedbush-securitiesThu, 26 Apr 2012 09:50:00 EST<![CDATA[Zynga reports record quarterly revenue, profits still down year-over-year]]>http://www.joystiq.com/2011/11/06/zynga-reports-record-quarterly-revenue-profits-still-down-year/http://www.joystiq.com/2011/11/06/zynga-reports-record-quarterly-revenue-profits-still-down-year/http://www.joystiq.com/2011/11/06/zynga-reports-record-quarterly-revenue-profits-still-down-year/#comments Never underestimate the addictive power of microtransaction infused farms, apparently, as Zynga has disclosed a record quarter for the period between July 1 and September 30: Over $306 million, an 80 percent increase in revenue over that same period in 2010. The social megalith attributes the increase in revenue to the successful launches of Adventure World and the Facebook version of Words with Friends, which took place during this quarter.

Revenue is a very different beast than profit, however, where Zynga continues to decline. Following a 95 percent year-over-year profit decrease in Q2, the SEC filing shows a 54 percent decrease year-over-year in Q3 after a total of $12.5 million in net profits.

Hey Zynga, want a tip? It's on the house: Monetize letter tiles in Words with Friends. We'll pay you fifteen dollars to get rid of "MXLCZDL."

JoystiqZynga reports record quarterly revenue, profits still down year-over-year originally appeared on Joystiq on Sun, 06 Nov 2011 16:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>adventure-worldfacebookfarmvillemacmobilepcprofitsQ3recordrevenuewords-with-friendszyngaSun, 06 Nov 2011 16:30:00 EST<![CDATA[Viacom denies keeping payments from Harmonix]]>http://www.joystiq.com/2010/12/21/viacom-denies-keeping-payments-from-harmonix/http://www.joystiq.com/2010/12/21/viacom-denies-keeping-payments-from-harmonix/http://www.joystiq.com/2010/12/21/viacom-denies-keeping-payments-from-harmonix/#comments Viacom has responded to claims this morning from Harmonix shareholders that the company avoided paying out bonuses to the developers of the Rock Band series. Viacom of course denies it dodged any obligations, and says instead that the representative for Harmonix's shareholders, Walter Winshall, was offered agreements that included big payouts for the developer but "spurned" those, hoping for a bigger reward later. That reward never came, says Viacom, and Winchell is allegedly lashing out with this lawsuit for not meeting his shareholders' expectations.

That doesn't quite cover the other allegation in the lawsuit against Viacom, which claims that it set up an agreement with EA on the Rock Band brand that benefited its own interests rather than those of Harmonix (by doing things like trading advertising sales on MTV rather than passing on profits to the developers). Proof on that allegation, one way or the other, will have to come out in court -- if this lawsuit goes that far.

JoystiqViacom denies keeping payments from Harmonix originally appeared on Joystiq on Tue, 21 Dec 2010 23:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>harmonixlawsuitmtvprofitsrock-bandRock-Band-3shareholdersviacomwalter-winshallTue, 21 Dec 2010 23:00:00 EST<![CDATA[GameStop cards can buy Kreds on Kongregate, retail sales fueling digital profits]]>http://www.joystiq.com/2010/12/01/gamestop-cards-can-buy-kreds-on-kongregate-retail-sales-fueling/http://www.joystiq.com/2010/12/01/gamestop-cards-can-buy-kreds-on-kongregate-retail-sales-fueling/http://www.joystiq.com/2010/12/01/gamestop-cards-can-buy-kreds-on-kongregate-retail-sales-fueling/#comments If you were a little puzzled about why retail chain GameStop invested in the Flash gaming site Kongregate earlier this year, here's (at least part of) your answer. The company has announced that GameStop gift cards will now be able to purchase Kongregate's "Kreds" virtual currency, which can then be used to buy unlocks and items in Kongregate games, or even "tip" developers who upload games to the site. Each dollar on a GameStop card equals 10 Kreds, and since those gift cards can be found not only in GameStop stores, but at grocery stores, bookstores and other places of commerce, that's a lot more Kreds Kongregate kan kapture.

Whoops, sorry, we got a little karried away there. The company is also offering a promotion for the deal, with up to 30 percent bonus Kreds given for any GameStop card used on the site through December 8. You have to give it to GameStop -- it's coming up with some really interesting ideas in its efforts to stay floating above the onrushing tide of digital distribution.

JoystiqGameStop cards can buy Kreds on Kongregate, retail sales fueling digital profits originally appeared on Joystiq on Wed, 01 Dec 2010 20:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>digitaldistributionflashgamestopkongregatekredspcprofitsretailWed, 01 Dec 2010 20:00:00 EST<![CDATA[Nintendo once again tops the Develop 100]]>http://www.joystiq.com/2010/05/11/nintendo-once-again-tops-the-develop-100/http://www.joystiq.com/2010/05/11/nintendo-once-again-tops-the-develop-100/http://www.joystiq.com/2010/05/11/nintendo-once-again-tops-the-develop-100/#comments Develop magazine has published its latest Develop 100, a list of 100 video game developers ranked by the amount of money they made at UK retail. There's a digital version of the whole book online, but the list is available in quick-browse form over on the website, and there are plenty of big industry names. Nintendo has topped the list -- it did the same thing a few years ago before Blizzard stole the No. 1 spot last time around (down to No. 80 this year).

Infinity Ward, a development house whose best days may be behind it, sits at No. 2. The biggest surprise in the top 10 may be Yuke's at No. 9, the company behind a long history of wrestling titles and creators of the popular UFC Undisputed line. It's been around this list before, though, having reached as high as No. 8 a few years ago. Midway Newcastle is on the list at No. 90, despite having shut down last year.

The US claims both the most studios on the list (40 percent) as well as the most profit earned (£484.78 million). And, in general, profits are up from previous years -- Nintendo itself is making about £70 million more than it did the last time it was in first place. Remember, these are all UK totals, but Develop has worked hard to make a fairly representative list of worldwide developers.

JoystiqNintendo once again tops the Develop 100 originally appeared on Joystiq on Tue, 11 May 2010 21:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>blizzarddevelopdevelop-100developersinfinty-wardnintendoprofitsrankingukyukesTue, 11 May 2010 21:30:00 EST<![CDATA[Nintendo expects falling profits for fiscal 2009]]>http://www.joystiq.com/2010/05/04/nintendo-expects-falling-profits-for-fiscal-2009/http://www.joystiq.com/2010/05/04/nintendo-expects-falling-profits-for-fiscal-2009/http://www.joystiq.com/2010/05/04/nintendo-expects-falling-profits-for-fiscal-2009/#commentsAs predicted by analysts late last year, Nintendo is forecasting a drop in annual profits for the first time since the Nintendo DS's 2004 introduction. It's not a loss, just a reduction in profits -- Nintendo is still forecasting profits of ¥230 billion ($2.43 billion), compared to fiscal 2009's ¥279.1 billion ($2.95 billion). The AP's Yuri Kageyama notes that the Wii price drop, as well as slower sales early in the fiscal year (reflected in the first half earnings report), negatively impacted Nintendo's profits.

Analyst Yuta Sakurai thinks Nintendo is being too pessimistic (or just not optimistic enough, considering that the subject is enormous profit). "We are expecting the results to be better than the company forecasts for the Wii," the Nomura Securities analyst said. "Christmas shopping was strong." Nintendo did have an extraordinary December, with both the Wii and the DS breaking three million units each just in the US. It then went on to break sales records in the first two months of 2010. Perhaps Sakurai is correct, and Nintendo is just being modest about its profits. We'll find out on Thursday when Nintendo releases its annual earnings.

[Via 1UP]

JoystiqNintendo expects falling profits for fiscal 2009 originally appeared on Joystiq on Tue, 04 May 2010 15:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>analystDSearningsfiscal-year-2010Nintendonomura-securitiesprofitssalesWiiTue, 04 May 2010 15:30:00 EST<![CDATA[EA joins the Fortune 500]]>http://www.joystiq.com/2010/04/15/ea-joins-the-fortune-500/http://www.joystiq.com/2010/04/15/ea-joins-the-fortune-500/http://www.joystiq.com/2010/04/15/ea-joins-the-fortune-500/#comments There are two kinds of corporations in the US: those who count themselves amongst the top 500 companies, according to Fortune magazine, and those who can't afford Fortune magazine. And now Electronic Arts has managed to break its way into the august ranks of the Fortune 500, CNN reports, at number 494, to be exact. Despite emerging from a period of bad morale, layoffs and studio closures, it would seem things are looking up for ol' EA. Uh, not that we care or anything. EA is totally evil, right?

[Via @CNNMoney]

JoystiqEA joins the Fortune 500 originally appeared on Joystiq on Thu, 15 Apr 2010 23:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businesseaelectronic-artsfortune-500profitprofitssalesThu, 15 Apr 2010 23:15:00 EST<![CDATA[Nintendo accounts for nearly 25% of GameStop's new product purchased in fiscal 2009]]>http://www.joystiq.com/2010/03/31/nintendo-accounts-for-nearly-25-of-gamestops-new-product-purch/http://www.joystiq.com/2010/03/31/nintendo-accounts-for-nearly-25-of-gamestops-new-product-purch/http://www.joystiq.com/2010/03/31/nintendo-accounts-for-nearly-25-of-gamestops-new-product-purch/#comments Of the many, many games that GameStop sold in 2009 (not to mention the millions of dollars it made), we were left wondering where the lion's share of the game retail juggernaut's capital went in terms of product that the company was actually buying for its stores. And in a recent SEC filing for the last financial year, the company an unsurprising leader: Nintendo took the top spot, with 23 percent of GameStop's "new product purchases" in fiscal year 2009. Sony trailed in second place by only five less points at 17 percent, while MIcrosoft, EA, and Activision picked up 12, 12, and 11 percent (respectively).

The remaining 25 percent presumably belongs to various third party peripherals and game-related items available for sale in the retail chain's stores. That said, while over 41 percent of GameStop's sales come from new products (read: from the vendors listed above) over the 26 percent coming from used game sales, the vast majority of revenue is still very much coming from used game sales, and thusly, the company's number one vendor: you.

JoystiqNintendo accounts for nearly 25% of GameStop's new product purchased in fiscal 2009 originally appeared on Joystiq on Wed, 31 Mar 2010 14:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>activisionDSeaElectronic-Artsfiscal-year-2009gamestopMicrosoftNintendoprofitsrevenuesecsecurities-and-exchange-commissionWiiXbox-360Wed, 31 Mar 2010 14:00:00 EST<![CDATA[Activision reports $113m in profits for 2009; 2010 game plan is predictable]]>http://www.joystiq.com/2010/02/10/activision-reports-113-million-in-profits-for-2009/http://www.joystiq.com/2010/02/10/activision-reports-113-million-in-profits-for-2009/http://www.joystiq.com/2010/02/10/activision-reports-113-million-in-profits-for-2009/#comments Today Activision Blizzard reported the financial results of its December quarter and the entire 2009 calendar year. For the year, Activision recorded a net income of $113 million, a modest turnaround from the $107 million in net losses for the company in 2008. Led by sales of Modern Warfare 2, all signs -- at least, this one -- pointed to an outstanding Q4 for the publisher. However, figures released today indicate that Activision actually posted a $286 million net loss during the period.

"Despite these challenging times, in 2010 we remain focused on expanding operating margins by growing our high-margin digital/online revenues, directing our resources to the largest and most profitable opportunities and realizing operational efficiencies globally," CEO Bobby Kotick said. "In calendar year 2010, we expect our net earnings and operating margin growth will be driven by our product slate that includes Blizzard Entertainment's Starcraft II and the World of Warcraft expansion pack, Cataclysm, as well as a diversified lineup based on Activision Publishing's best-selling franchises including Call of Duty, Guitar Hero and Tony Hawk, together with other well-known titles such as True Crime, Spider-Man and Bakugan."

While few details were give about Activision's pending slate of sequels, spinoffs and possible reboots, Mike Griffith, President and CEO of Activision Publishing, did share a few words about the next True Crime game. "We'll be releasing a game in the $4 billion action genre, based on our True Crime franchise," Griffith said. "The game blends intense Hollywood-style driving with martial arts combat and shootouts to deliver an Asian cinema-inspired action thriller. This is a big open-world action game that looks especially strong." Griffith also confirmed that a new 007 game is still in the works for 2010.

Additionally, Activision noted that two new IPs are in development for its 2010 lineup and assured that additional DLC will continue to be released for Guitar Hero 5 (and presumably Band Hero), as well as for DJ Hero. The next installments in both music game franchises, Guitar Hero and DJ Hero, are due in "the back half of the year," according Griffith. Activision also announced that it has ceased developing new Guitar Hero games for the PlayStation 2 platform. Aw, shucks.

JoystiqActivision reports $113m in profits for 2009; 2010 game plan is predictable originally appeared on Joystiq on Wed, 10 Feb 2010 18:05:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>activisionactivision-blizzardbakuganblizzardbobby-kotickcall-of-dutycataclysmdj-herodj-hero-2DSfinancialfinancial-reportfinancialsfy-2009guitar-heroincomeMicrosoftNintendoprofitsq4salesspider-manstarcraft-2tony-hawktrue-crimeWiiwowXbox-360Wed, 10 Feb 2010 18:05:00 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[Report: Wii parts production shrinks]]>http://www.joystiq.com/2009/12/02/report-wii-parts-production-shrinks/http://www.joystiq.com/2009/12/02/report-wii-parts-production-shrinks/http://www.joystiq.com/2009/12/02/report-wii-parts-production-shrinks/#comments
[Don Fulano]

A slowdown in Wii production can only mean one thing: Nintendo has cured the injured, ailing and aged -- there's no more work left to be done. While saving the world proved vastly lucrative for Nintendo, it also benefited the manufactures behind the scenes; or, as we like to call them, the magic makers. Nikkei reports that Wii parts suppliers, Mitsumi Electric Co. and Hosiden Corp., have significantly reduced their yearly profits forecasts following a decrease in orders to assemble Wii consoles.

Mitsumi predicts its net profits will fall 52 percent year-over-year to ¥5.3 billion ($61.2 million), down from the previously projected ¥7 billion. Hosiden expects a similar drop, from the forecast ¥7.5 billion down to ¥6 billion. These percentage changes are eerily similar to the figure reported in Nintendo's half-year results, posted at the end of October. Are the numbers trying to tell us something? Yep, there's still plenty of money being made and, apparently, more world to save.

[Via MarketWatch]

Source - "As Wii Stumbles, Parts Suppliers' Earnings Tumble" [Nikkei.com; subscription required]

JoystiqReport: Wii parts production shrinks originally appeared on Joystiq on Wed, 02 Dec 2009 11:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>financial-reporthosidenmanufacturingmitsumiNintendopartsprofitsWiiWed, 02 Dec 2009 11:30:00 EST<![CDATA[Ubisoft first-half profits plummet into loss]]>http://www.joystiq.com/2009/11/30/ubisoft-first-half-profits-plummet-into-loss-alongside-falling-r/http://www.joystiq.com/2009/11/30/ubisoft-first-half-profits-plummet-into-loss-alongside-falling-r/http://www.joystiq.com/2009/11/30/ubisoft-first-half-profits-plummet-into-loss-alongside-falling-r/#comments Among the comprehensive list of numbers in Ubisoft's first half fiscal 2009-10 report, measuring performance in April through September 2009, one figure stands out: the French company's reported €52,027,000 in not-profit. That's right, Ubisoft's profits are down by more than €70 million (over $100 million) from the same period last year to rest firmly in the red.

From a profitable first half of fiscal 2008-09 of roughly €24 million to just over €52 million in losses in the first half of fiscal 2009-10, Ubisoft's profits have experienced a year-over-year change of -316.53 percent. However, CEO Yves Guillemot remains steadfast that projected sales figures for Assassin's Creed 2 and Avatar will ease Ubisoft's financial woes. This is, after all, the most important Q4 in the company's history.

JoystiqUbisoft first-half profits plummet into loss originally appeared on Joystiq on Mon, 30 Nov 2009 16:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>earningsfinancialfinancial-reportprofitssalesubisoftwiiyves-guillemotMon, 30 Nov 2009 16:01:00 EST<![CDATA[Konami forecasts 82 percent decline in net income]]>http://www.joystiq.com/2009/11/03/konami-forecasts-82-percent-decline-in-net-income/http://www.joystiq.com/2009/11/03/konami-forecasts-82-percent-decline-in-net-income/http://www.joystiq.com/2009/11/03/konami-forecasts-82-percent-decline-in-net-income/#comments Konami has revealed its financial forecast for the six months ending September 30, 2009. Comparing profits to the same time last year, the company predicts that net income attributable to Konami corporation would fall 82 percent, from 12 billion yen ($132 million) to 2 billion yen ($24 million). Of course, Konami blames this sharp downturn on a lack of key titles (again), especially in contrast to MGS4 which buoyed much of 2008.

The company is hopeful for a climb into the black this time next year, forecasting net income to be around 16 billion yen ($177 million). Konami doesn't say what it expects to drive this rise in profits, but titles like Silent Hill: Shattered Memories and PES 2010 will likely play a part in that. Next year also promises the appearance of a revitalized Castlevania, a portable Metal Gear Solid and -- maybe -- a Rising action star.

[Via GI.biz]

Source - PDF document

JoystiqKonami forecasts 82 percent decline in net income originally appeared on Joystiq on Tue, 03 Nov 2009 15:21:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>businessDSkonamiMicrosoftNintendoprofitssalesWiiXbox-360Tue, 03 Nov 2009 15:21:00 EST<![CDATA[Capcom posts strong Q2 2009 earnings, despite 'soft' overseas sales]]>http://www.joystiq.com/2009/10/29/capcom-posts-strong-q2-2009-earnings-despite-soft-overseas-sa/http://www.joystiq.com/2009/10/29/capcom-posts-strong-q2-2009-earnings-despite-soft-overseas-sa/http://www.joystiq.com/2009/10/29/capcom-posts-strong-q2-2009-earnings-despite-soft-overseas-sa/#comments Capcom has posted its financial results for the six months ending September 30, 2009, and things are definitely looking good for the company. The publisher reported net sales of ¥38.892 billion ($426 million), up from ¥31.236 billion ($342 million) during the same period last year, which amounts to a 24.5-percent increase. The majority of those sales were generated by Capcom's home video games division, which pulled in ¥27.748 billion ($303 million) -- up from ¥16.486 ($180 million); a staggering 68.3-percent increase.

Capcom credits strong sales of Monster Hunter Tri in Japan, as well as continued sales of Resident Evil 5, Monster Hunter Freedom Unite and Ace Attorney: Investigations to its recent financial success. However, the company stated that overseas sales remained "soft" for the period thanks to the delay of Dark Void and the weak performance of Bionic Commando and Monster Hunter Freedom Unite. Joystiq readers will recall that Capcom leveled complaints at the same games in its first quarter report earlier this year. It's worth noting that overseas sales still amounted to ¥11.739 billion ($128 million), which accounted for 57-percent of the home video games division sales.

We suppose Capcom might consider that "soft," but the suits can't be too broken up about it.

Source -- Capcom | Favorable Financial Results for the 6 months ended September 30, 2009
Source -- Capcom | Consolidated Financial Results for the 2nd Quarter of the FY2009

JoystiqCapcom posts strong Q2 2009 earnings, despite 'soft' overseas sales originally appeared on Joystiq on Thu, 29 Oct 2009 14:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bionic-commandocapcomearningsfinancialfinancial-resultsmonster-huntermonster-hunter-3monster-hunter-triprofitsresident-evilresident-evil-5salessoftwareThu, 29 Oct 2009 14:01:00 EST<![CDATA[Nintendo half-year results show profits down in '09; still making boffo bucks]]>http://www.joystiq.com/2009/10/29/nintendo-half-year-results-show-profits-down-in-2009/http://www.joystiq.com/2009/10/29/nintendo-half-year-results-show-profits-down-in-2009/http://www.joystiq.com/2009/10/29/nintendo-half-year-results-show-profits-down-in-2009/#comments
Nintendo's profits took a 52 percent dive in the first-half of 2009 compared to the same period last year, which sounds horrible -- until the realization hits that the company still brought in $766 million in pure profit. Yes, Nintendo is still doing all right, even as it cut its profit forecast for the fiscal year ending March 2010 from $3.3 billion to merely $2.53 billion. Tragic, we know.

The Wii has now sold 56.14 million units globally, while the DS has reached 113.48 million in unit sales. There's been a general slowdown of software sales, however, as the House of Mario has had fewer high-profile releases so far this year -- we count only: Wii Sports Resort. Although investors may see the profit decline as a bad thing, it's not like Nintendo's plump plumber is going to be forced to cut back on those hearty meals any time soon.

Source -- Nintendo financial report [PDF]
Source -- Nintendo profits slide (MCV)

JoystiqNintendo half-year results show profits down in '09; still making boffo bucks originally appeared on Joystiq on Thu, 29 Oct 2009 13:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>2009DSearningsfinancialfinancial-resultshardwarenintendoprofitssalessoftwareWiiThu, 29 Oct 2009 13:40:00 EST<![CDATA[Analysts: Nintendo may forecast drop in profits]]>http://www.joystiq.com/2009/10/20/analysts-nintendo-may-forecast-drop-in-profits/http://www.joystiq.com/2009/10/20/analysts-nintendo-may-forecast-drop-in-profits/http://www.joystiq.com/2009/10/20/analysts-nintendo-may-forecast-drop-in-profits/#comments

Striding into informed meta-prediction territory, several Tokyo-based analysts have suggested that Nintendo may cut its earnings forecast in preparation for a decline in profits -- the first in six years. According to a Bloomberg report, Nintendo's adjustments will be prompted by slowing Wii sales and a stronger Yen.

Scheduled to report earnings on October 29th, Nintendo is expected to indicate an 11 percent fall in net income to 249.3 billion yen (nearly $2.75 billion) for the fiscal year. Soichiro Fukuda, a Tokyo-based Citigroup Inc. analyst, expects "a large downward revision" from the manufacturer in the form of a 29 percent profit drop to 201 billion yen (roughly $2.2 billion).

While the figures make for dry reading, they illuminate the altered landscape in which Nintendo and its products now compete. Standing atop a wobbling economy, the games industry now hosts a revitalized PlayStation 3 and a Wii that brings in fewer dollars -- the only thing that hasn't changed, of course, is our desire to buy the DS again and again.

JoystiqAnalysts: Nintendo may forecast drop in profits originally appeared on Joystiq on Tue, 20 Oct 2009 16:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>DSfinancial-resultsit-prints-moneynintendoprofitsWiiTue, 20 Oct 2009 16:30:00 EST<![CDATA[Gameloft still enjoying lofty sales despite continuing recession]]>http://www.joystiq.com/2009/07/29/gameloft-still-enjoying-lofty-sales-despite-continuing-recession/http://www.joystiq.com/2009/07/29/gameloft-still-enjoying-lofty-sales-despite-continuing-recession/http://www.joystiq.com/2009/07/29/gameloft-still-enjoying-lofty-sales-despite-continuing-recession/#commentsGameloft, which happily announced increased sales in Q1 of 2009 despite the fact that it was, you know, Q1 of 2009, after announcing increased sales in 2008, has released its results for the first half of 2009. Guess what?

"Gameloft achieved consolidated sales of EUR60.1 million for the first half of 2009," the statement reads, "up by 20% from the previous year." 95 percent of Gameloft's sales for this period came from mobile games, a business that grew thanks to the increasing popularity of the iPhone App Store. Clearly, releasing the same soccer and brick-breaking games on every platform ever is a business model that more publishers should be looking into.

JoystiqGameloft still enjoying lofty sales despite continuing recession originally appeared on Joystiq on Wed, 29 Jul 2009 07:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>gameloftmobileprofitsrecessionsalesWed, 29 Jul 2009 07:30:00 EST<![CDATA[THQ earnings show profits up ]]>http://www.joystiq.com/2009/07/28/thq-earnings-show-profits-up-thanks-ufc-and-red-faction-guerr/http://www.joystiq.com/2009/07/28/thq-earnings-show-profits-up-thanks-ufc-and-red-faction-guerr/http://www.joystiq.com/2009/07/28/thq-earnings-show-profits-up-thanks-ufc-and-red-faction-guerr/#comments
THQ recently unloaded its earnings for its first fiscal quarter ending June 30, and with strong sales of UFC 2009 Undisputed and Red Faction: Guerrilla (it's all about the ostriches, baby!), the company is, uh, very much not operating like THQ. It reports that net profits climbed a whopping 77% to $243.5 million (from $137.6 million last year) and that net sales (non-GAAP) for the three months ending June 30 was $233.9 million, up 93% from $121.1 million last year.

And, again, it's all due to strong showings of Red Faction: Guerrilla and UFC 2009 Undisputed. Both titles shipped over a million units (the latter shipping almost three) and made huge profits for THQ during Q2 of this year, the company's first fiscal quarter of 2010.

JoystiqTHQ earnings show profits up originally appeared on Joystiq on Tue, 28 Jul 2009 17:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>earningsprofitsred-factionred-faction-guerrillareportthqufcufc-2009-undisputedTue, 28 Jul 2009 17:45:00 EST<![CDATA[Nintendo has more profitable employees than Google, Goldman Sachs]]>http://www.joystiq.com/2008/09/16/nintendo-has-more-profitable-employees-than-google-goldman-sach/http://www.joystiq.com/2008/09/16/nintendo-has-more-profitable-employees-than-google-goldman-sach/http://www.joystiq.com/2008/09/16/nintendo-has-more-profitable-employees-than-google-goldman-sach/#commentsFiled under:


Nintendo is at the top of their game. They've been raking in the cash ever since the DS and Wii hit the scene. According to the Financial Times, Nintendo as a company is so good that each of its employees makes more money for the company than those that work at Google and Goldman Sachs, two of the most profitable companies in the world.

So how much does each employee generate in business for the house that Mario built? Well, it's around $1.6 million this year. That figure blows your mind, just as it does ours, we're sure, but Nintendo estimates each employee is worth even more than that, as the company accounts for some salaries as R & D spending.

We've all been waiting for Nintendo to hit the ceiling, but it appears there's none in sight. The company keeps growing and profits keep soaring, so we doubt if we'll see the company slow down anytime soon.

JoystiqNintendo has more profitable employees than Google, Goldman Sachs originally appeared on Joystiq on Tue, 16 Sep 2008 15:27:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businessprofitssalessalesfiguresTue, 16 Sep 2008 15:27:00 EST<![CDATA[Wii Fit helps drive record Q2 for GameStop]]>http://www.joystiq.com/2008/08/21/wii-fit-helps-drive-record-q2-for-gamestop/http://www.joystiq.com/2008/08/21/wii-fit-helps-drive-record-q2-for-gamestop/http://www.joystiq.com/2008/08/21/wii-fit-helps-drive-record-q2-for-gamestop/#commentsFiled under:

A lot of those Wii Fit bundles people have been snatching up (and never playing again) came from GameStop, apparently, as the company reports a net earnings increase of 162.1 percent to $57.2 million in the second quarter. For the period of three months ending August 2nd, sales increased by 34.8 percent to $1.80 billion.

It wasn't all thanks to Wii Fit, though. There were some other big titles that released during this time period, including Grand Theft Auto IV and Metal Gear Solid 4. GameStop's CEO R. Richard Fontaine is obviously happy about the increase in profits. "By prioritizing our investments and focusing our resources, GameStop continues to significantly outperform the specialty retail segment as a whole, when comparing top-line growth, comparable store sales, and net earnings growth." Yes, but while you're commenting, is there anything you'd like to pre-order today?

Gallery: Unwrapping Wii Fit

The box arrives!Batteries

JoystiqWii Fit helps drive record Q2 for GameStop originally appeared on Joystiq on Thu, 21 Aug 2008 11:53:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businessgamestopprofitswii-fitThu, 21 Aug 2008 11:53:00 EST<![CDATA[The Sony Hardware Reciprocal: PS3 losses surpass PS2 profits]]>http://www.joystiq.com/2008/08/19/the-sony-reciprocal-ps3-losses-surpass-ps2-profits/http://www.joystiq.com/2008/08/19/the-sony-reciprocal-ps3-losses-surpass-ps2-profits/http://www.joystiq.com/2008/08/19/the-sony-reciprocal-ps3-losses-surpass-ps2-profits/#commentsFiled under: , , , , ,

According to DFC intelligence figures cited by Dave Perry, Sony has lost more money on the PlayStation 3 hardware than it made on the PlayStation 2 during its five most popular years. In pure numbers speak it's lost $3 billion on the PS3, which is about equivalent to everything it made selling PS2s during its peak years. This story would actually have a lot more impact if Carl Sagan was around to say "beelyuns."

Perry, best known for his stint at Shiny Entertainment, was speaking at the really long-named Games Convention Developers Conference, which appears to be both a Convention and a Conference, and was just using the figures to underscore how much Sony was spending on hardware development. However, the 1UP article doesn't mention until near the end that the original PS2 lost money in its first year, and that Sony (and the other console makers) does this so it can make bank on the software/games that people need to fuel their systems.

In all fairness, the article goes on to explain that Microsoft lost $4 billion on the original Xbox, and has had to spend over $1 billion replacing faulty hardware in the 360 and extending the warranty for original purchasers. So, we tend to think $5 billion trumps $3 billion. The real winner in this struggle? Nintendo. It has been churning a profit on that little Wii since it hopped out of the gate. Rassin' frassin' wand-wagglin' profiteers.

JoystiqThe Sony Hardware Reciprocal: PS3 losses surpass PS2 profits originally appeared on Joystiq on Tue, 19 Aug 2008 17:27:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>billionshardwareMicrosoftNintendoprofitprofitsPS2PS3SonyWiiXboxXbox-360Tue, 19 Aug 2008 17:27:00 EST<![CDATA[Sony profits dip, games division way up]]>http://www.joystiq.com/2008/07/29/sony-profits-dip-games-division-way-up/http://www.joystiq.com/2008/07/29/sony-profits-dip-games-division-way-up/http://www.joystiq.com/2008/07/29/sony-profits-dip-games-division-way-up/#commentsFiled under: , ,


OK, Sony fans, there's good news and there's bad news, which do you want first? ... Bad? OK. Sony's profits from April to June dropped to ¥34.98 billion ($326.9 million), which is about half as much as it made during the same period last year. (Ouchers!) The problems came from the lack of a big summer hit like Spider-Man 3, poor performance from Sony Ericsson and other factors.

So what's the good news? Well, the video game division (earnings dead weight for quite some time) actually battled back to put up ¥5.4 billion (around $50 million) in profit after PlayStation 3 shipments rose to 1.56 million, a far cry from what we were hearing last October. It ... lives!

JoystiqSony profits dip, games division way up originally appeared on Joystiq on Tue, 29 Jul 2008 15:45:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>profitsPS2ps3sonyTue, 29 Jul 2008 15:45:00 EST<![CDATA[Take-Two quarterly revenues up 163% on GTA IV sales]]>http://www.joystiq.com/2008/06/05/take-two-quarterly-revenues-up-163-on-gta-iv-sales/http://www.joystiq.com/2008/06/05/take-two-quarterly-revenues-up-163-on-gta-iv-sales/http://www.joystiq.com/2008/06/05/take-two-quarterly-revenues-up-163-on-gta-iv-sales/#commentsFiled under: , , ,

In light of all the important news coming out of Take-Two's just-released financial report, it would be easy to skim over the actual financial numbers at the core of the release. That would be a shame for Take-Two, as the report shows incredible growth for the company when compared to last year.

Quarterly revenues were up a staggering 163% year over year, from $205.4 million to $539.8 million, mainly on the strength of Grand Theft Auto IV (and not on the strength of titles like Go Diego Go! Safari Rescue). These revenues were enough to turn a loss of $29.2 million during last year's second quarter into a profit of nearly $115.4 million during this year. The company's coffers have ballooned to include nearly $1.1 billion in assets, up from $830 million at the end of the last fiscal year in October.

The report also reveals that 2008 might finally be the year that the PS2 finally starts its slow decline, at least from Take-Two's perspective. At this time last year, 37% of Take Two's revenues (a plurality) came from PS2 games. This year, that ratio is down to 10%, while the Xbox 360 and PS3 shot up to 41% and 31% of revenues, respectively. The company only has one PS2 game listed on tap for the rest of the year: MLB Power Pros 2008.

JoystiqTake-Two quarterly revenues up 163% on GTA IV sales originally appeared on Joystiq on Thu, 05 Jun 2008 17:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>financialfinancialsprofitsPS2PS3reporttake-twoTake2Xbox-360Thu, 05 Jun 2008 17:20:00 EST<![CDATA[Square Enix might be squashing creativity]]>http://www.joystiq.com/2008/05/27/square-enix-might-be-squashing-creativity/http://www.joystiq.com/2008/05/27/square-enix-might-be-squashing-creativity/http://www.joystiq.com/2008/05/27/square-enix-might-be-squashing-creativity/#commentsFiled under:

Gamers like innovation when it's implemented well and creatively. Take a look, for example, at the positive critical reception (from gamers, bloggers, and journalists alike) for Square Enix's The World Ends With You. Such a refreshing break from Square's usual sequels and remakes might be a thing of the past, though, after the company's profits for fiscal year 2007 dropped 21% from the previous year's earnings.

According to Kotaku rumor, Square Enix higher ups were lashing out at developers in a meeting last month, claiming that the company's games are falling away from the mainstream crowd. Employees who continue to steer the company in this direction are apparently in danger of being fired.

As this is a rumor based on hearsay, don't take it as fact just yet. Still, if it's true, then we can't help but worry that this might scare developers from coming up with original ideas like TWEWY and Sigma Harmonics. After all, we like seeing things other than sequels and remakes from the company.

JoystiqSquare Enix might be squashing creativity originally appeared on Joystiq on Tue, 27 May 2008 17:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businessfiscal-yearits-a-wonderful-worlditsawonderfulworldprofitssquare-enixthe-world-ends-with-youwewyworld-ends-with-youTue, 27 May 2008 17:00:00 EST<![CDATA[Konami whips up profits in last fiscal year]]>http://www.joystiq.com/2008/05/16/konami-whips-up-profits-in-last-fiscal-year/http://www.joystiq.com/2008/05/16/konami-whips-up-profits-in-last-fiscal-year/http://www.joystiq.com/2008/05/16/konami-whips-up-profits-in-last-fiscal-year/#commentsFiled under:


Konami's fiscal year ending March 31 enjoyed a good rotation around the sun with $175 million in profit, an increase of 13% over the prior year. GameDaily reports the publisher saw revenues of $2.8 billion, thanks to numerous titles in Japan, Dance Dance Revolution on the Wii in North America and Pro Evolution Soccer 2008 in Europe.

The company gave guidance that it expects revenues of $3.15 billion this fiscal year; probably due to a game called Metal Gear something and continued strong sales of its numerous franchises. We're certainly curious to see how Rock Revolution -- and its drums o' doom -- will do this fall.

JoystiqKonami whips up profits in last fiscal year originally appeared on Joystiq on Fri, 16 May 2008 10:50:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>konamiprofitsrock-revolutionsalesFri, 16 May 2008 10:50:00 EST<![CDATA[Sega Sammy losses bring layoffs, arcade closings]]>http://www.joystiq.com/2008/02/08/sega-sammy-losses-bring-layoffs-arcade-closings/http://www.joystiq.com/2008/02/08/sega-sammy-losses-bring-layoffs-arcade-closings/http://www.joystiq.com/2008/02/08/sega-sammy-losses-bring-layoffs-arcade-closings/#commentsFiled under: , , ,

Life comes at you fast if you're Sega Sammy. Just a couple of years after increased profits had the company rolling in money, the company today announced that it plans to lose a whopping 26 billion yen (approx. $230 million) this fiscal year. Compared to the previous projection of a billion yen profit for the year, the turnaround comes as a bit of a shock.

The main culprit behind the downturn seems to be the pachinko side of the business, which saw a predicted 85 percent fall in profits, and arcade sales, which switched from a slight profit last year to a 11.4 billion yen loss this year (damn that popular Wii).

To staunch the bleeding, the company will be offering early retirement to 400 employees and closing 110 unprofitable amusement parks and arcades around Japan. Hard to believe the previous incarnation of this company once held the lion's share of the home video game market.

JoystiqSega Sammy losses bring layoffs, arcade closings originally appeared on Joystiq on Fri, 08 Feb 2008 10:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>downturnlossespachinkoprofitssammysegasega-sammystockFri, 08 Feb 2008 10:40:00 EST<![CDATA[GameStop shares slip 10%]]>http://www.joystiq.com/2007/11/20/gamestop-shares-slip-10/http://www.joystiq.com/2007/11/20/gamestop-shares-slip-10/http://www.joystiq.com/2007/11/20/gamestop-shares-slip-10/#commentsFiled under:

GameStop announced that it doesn't expect an insanely strong fourth quarter due to competition, which resulted in a 10% drop in its stock price. Don't get any sneaky ideas all you GameStop haters -- just because the group won't be making as much money as expected, doesn't mean it still won't be making tons of it during the holiday season.

GameStop continues its expansion and still sees great profits every quarter. In Q3, net income reached $52 million from Halo 3 and Guitar Hero II, up from the $13.6 million a year prior. The video game pawn shop will continue to make money, have no fear of that.

JoystiqGameStop shares slip 10% originally appeared on Joystiq on Tue, 20 Nov 2007 15:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businessgamestopmoneyprofitssharesTue, 20 Nov 2007 15:30:00 EST<![CDATA[Mad Catz profits pounce into the black]]>http://www.joystiq.com/2007/06/06/mad-catz-profits-pounce-into-the-black/http://www.joystiq.com/2007/06/06/mad-catz-profits-pounce-into-the-black/http://www.joystiq.com/2007/06/06/mad-catz-profits-pounce-into-the-black/#commentsFiled under: ,

Peripheral manufacturer Mad Catz got back to black with a $700,000 profit in fiscal year 2007. It was a far better outcome for their fiscal year, which ended at the end of March, compared to their $3.3 million loss in FY2006. Sure, $700k isn't insanely fantastic, but it's still better than being millions in the hole.

Looks like FY2008 should be a good year for Mad Catz. On top of starting the year off making a profit, they also just locked the Halo 3 merchandise contract with Microsoft. That's guaranteed to put a couple more doubloons in their vault come the holiday season. Mad Catz says they are well positioned despite the "console transition is still ongoing."

JoystiqMad Catz profits pounce into the black originally appeared on Joystiq on Wed, 06 Jun 2007 23:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>halomad catzmadcatzmerchandiseprofitsWed, 06 Jun 2007 23:30:00 EST<![CDATA[Negative forecast for Take-Two earnings call]]>http://www.joystiq.com/2007/06/01/negative-forecast-for-take-two-earnings-call/http://www.joystiq.com/2007/06/01/negative-forecast-for-take-two-earnings-call/http://www.joystiq.com/2007/06/01/negative-forecast-for-take-two-earnings-call/#commentsFiled under: ,

Wedbush Morgan analyst Michael Pachter's Magic 8-Ball is just full of gloom and doom today. Not only does he believe that Halo 3 is going to cause a couple weeks of delay for GTAIV, but that some bad stuff is going to go down during Take-Two's June 11 earnings call. Pachter says to expect studio closures, lease terminations, game cancellations and just general un-good things.

Pachter says, "We believe that new management understands what is required to turn the company's fortunes around, and believe that they will take prudent steps to return the company to profitability. However, we believe that there are significant structural changes required in order to control costs ... new management is saddled with the decisions made by the prior management for at least another year, and we do not expect new games such as The Bigs, All-Pro Football, Fantastic Four, or The Darkness to be wildly profitable."

Pachter says that Take-Two is currently overvalued and advises shareholders to sell. Pachter concludes in a fantastically geeky/cerebral way saying that loyal shareholders are stuck in a prisoner's dilemma. They can stay and hope the company turns it around a year from now, or they can drop the shares and then everyone loses ... once again, Pachter says to cut and run.

JoystiqNegative forecast for Take-Two earnings call originally appeared on Joystiq on Fri, 01 Jun 2007 16:47:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>GTAIVpachterprofitstake twoTakeTwoFri, 01 Jun 2007 16:47:00 EST<![CDATA[Iwata makes Barron's best CEO list]]>http://www.joystiq.com/2007/03/27/iwata-makes-barrons-best-ceo-list/http://www.joystiq.com/2007/03/27/iwata-makes-barrons-best-ceo-list/http://www.joystiq.com/2007/03/27/iwata-makes-barrons-best-ceo-list/#commentsFiled under: ,

Financial publication Barron's announced their picks for the worlds best CEOs. Making the list for the first time is Nintendo's Satoro Iwata. The publication said that while Microsoft and Sony duke it out for power in their hardware, Nintendo's Wii is an "elegant and popular" alternative. Nintendo's stock has doubled in the last year supported by good buzz and strong performance of their hardware. Barron's focused on the Wii, but the DS is Nintendo's secret weapon of financial stability.

The question now becomes if Barron's was swept up in all the Nintendo Wii hype as well. The impressive launch, those sales figures and seeing their readership demographic enjoying the system. It's simply strange that this is Iwata's first appearance on the list, considering Nintendo has been chugging along as a profitable company for a good while.

[Via GamePolitics]

JoystiqIwata makes Barron's best CEO list originally appeared on Joystiq on Tue, 27 Mar 2007 10:25:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>barron'sCEOdsnintendoprofitssatoro iwataSatoroIwataWiiTue, 27 Mar 2007 10:25:00 EST<![CDATA[Left Behind Games leaves behind money]]>http://www.joystiq.com/2007/02/21/left-behind-games-leaves-behind-money/http://www.joystiq.com/2007/02/21/left-behind-games-leaves-behind-money/http://www.joystiq.com/2007/02/21/left-behind-games-leaves-behind-money/#commentsFiled under: , ,

According to Next-Gen, Left Behind Games posted a $4.1 million loss for its fiscal third quarter. This was on top of a last year's loss of $934,000. It really doesn't mean much given their first product, Left Behind: Eternal Forces, just debuted at the end of the last calendar year.

Troy Lyndon, CEO of Left Behind Games, says the company will be profitable within the year, "We are expanding our sales channels beyond major retailers to include more Christian bookstores, ministry sponsorships, church outreaches, Christian conferences, LAN center licensing, viral online and Internet sales, music concerts and trial versions. We look forward to a very prosperous year."

Left Behind Games is already fixing previous mistakes by using Big Huge Games' (Rise of Nations) RTS engine and some of their staff to make a better sequel -- it's not like the next game could be worse.

JoystiqLeft Behind Games leaves behind money originally appeared on Joystiq on Wed, 21 Feb 2007 04:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businessleft behindleft behind gamesLeftBehindLeftBehindGameslossmoneyPCprofitsWed, 21 Feb 2007 04:30:00 EST<![CDATA[THQ forms evil plan to net 1 BILLION dollars]]>http://www.joystiq.com/2007/01/11/thq-forms-evil-plan-to-net-1-billion-dollars/http://www.joystiq.com/2007/01/11/thq-forms-evil-plan-to-net-1-billion-dollars/http://www.joystiq.com/2007/01/11/thq-forms-evil-plan-to-net-1-billion-dollars/#commentsFiled under:

Gamespot is reporting that the portable heavy publisher THQ plans to make one billion dollars in its fiscal 2007 year. it The forecast is due to incredibly strong sales of games like WWE SmackDown! vs. RAW 2007, Cars, and Avatar: The Last Airbender.

Brian Farrell, President and CEO of THQ, said, "THQ's platform strategy served us very well this holiday...This performance combined with our successful original property launches exclusively for next-generation systems have positioned THQ to achieve the significant milestone of $1 billion in sales for fiscal 2007." He then made plans to buy the Caspian Sea and rename it Bikini Bottom.

JoystiqTHQ forms evil plan to net 1 BILLION dollars originally appeared on Joystiq on Thu, 11 Jan 2007 19:10:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>airbenderavatarcarsfiscalprofitsrawsmackdownthqwweThu, 11 Jan 2007 19:10:00 EST<![CDATA[Video games and batteries drag Sony down]]>http://www.joystiq.com/2006/10/27/video-games-and-batteries-drag-sony-down/http://www.joystiq.com/2006/10/27/video-games-and-batteries-drag-sony-down/http://www.joystiq.com/2006/10/27/video-games-and-batteries-drag-sony-down/#commentsFiled under: , ,

Variety reports that Sony's profits are down a whopping 94% due to their enormous battery recall, and a drain from their video game unit. it's no secret that Sony has been spending a lot of money on the PlayStation 3 while they ramp up for their launch next month, but it's impressive to see what those numbers are in black and white.

Sales were slow for both the PlayStation Portable and the PlayStation 2 this year, and "As a result, vidgame revenue was down 21% at $1.4 billion. Operating income swung from a $70 million profit to a $369 million loss." That's a pretty sizable chunk of change.

While the PS3 research and development costs aren't unexpected, when you combine the enormous outlay with the battery recall Sony has had to deal with, there is a much higher expectation for the PS3 to pull in some mighty big bucks and soon.

Serves 'em right for messing with Lik-sang. Boo-yah!

JoystiqVideo games and batteries drag Sony down originally appeared on Joystiq on Fri, 27 Oct 2006 09:05:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>batteriesPlayStation PortableprofitsPS3PSPSonySony PlayStation 3Fri, 27 Oct 2006 09:05:00 EST