Electronic Arts Does Well Without New Games

Electronic Arts Does Well Without New Games

Electronic Arts announced solid results for its second quarter ending 9/30/22.  Overall revenue for the second quarter and the trailing twelve months was up 4% over the previous year period.  Live services has represented 73% of revenue over the past 12 months. Analysis Electronic Arts’ results are impressive given that they are not releasing many new titles.  The only titles that have been released in the first half of fiscal 2023 are.....
Roblox Revenue

Roblox Revenue Increases

For the first nine months ending 9/30/22, Roblox Corporation (NYSE: RBLX) revenue increased 22% to $1.65 billion.  However, net loss was up to $634 million from a loss of $348 million for the first nine months of 2021. Analysis Roblox was one of the biggest gaming IPOs ever in March 2021 with an initial market value of over $38 billion.  Obviously, performance standards for the company are high.....
Activision Blizzard Revenue

Activision Blizzard Revenue Declines

For the third quarter ending 9/30/22 Activision Blizzard (NASDAQ: ATVI) saw revenue decline 14% from Q3 2021 to $1.8 billion.  For the first nine months of 2022 revenue was down 22% over the first nine months of 2021.  In a letter, ATVI CEO Bobby Kotick said the merger with Microsoft is expected to close by the end of Microsoft’s fiscal year on 6.....
Square Enix Stock

Square Enix Results Disappoint

For the first six months of fiscal 2023, ending 9/30/22, Square Enix Holdings (9684.T-JP: Tokyo) reported a 3.3% decline in net sales and an 11% drop in operating income. Analysis The results for Square Enix were mixed but not that bad.  In May, Square sold Eidos, Crystal Dynamics, and the related IP and studios to Embracer Group.  The goal was to focus more on bl.....
Take-Two Stock

Take-Two Results Reflect Zynga Acquisition

Take-Two Interactive (NASDAQ: TTWO) reported a substantial revenue increase for the first six months of fiscal 2023 ending 9/30/22.  Revenue for the six-month period was up 54% to $3.9 billion.  However, the company reported a loss of $361 million. Analysis In late May, Take-Two completed its $12 billion acquisition of Zynga and that is responsible for both the revenue gain and .....
Turtle Beach stock

Turtle Beach Revenue Declines

For the nine months ending 9/30/22 Turtle Beach (NASDAQ: HEAR) reported a 46% revenue decline.  Revenue for the first nine months of 2022 was $139 million, versus $257 million in the first nine months of 2021.  For the first nine months of 2022 Turtle Beach reported a net loss of $36 million versus net income for the comparable 2021 period. Analysis The hardware and accessories business has been hammered on several levels this year.  Har.....
PlayStation 5 Forecast

Sony Video Game Results are a Major Disappointment

It is quarterly earnings time and in the video game industry, Sony has become the leading company to watch. Hardware shortages of the PlayStation 5 have been a major industry drag. Unfortunately, the latest earnings release indicates shortages are still an issue. PlayStation 5 Sales Below Expectations On the surface, the Sony results look pretty good. In Sony’s Games & Network Services revenue was up 12% over the previous year quarter. However, S.....
Corsair Revenue

Corsair Has Decent Q3

Corsair Gaming (NASDAQ: CRSR) reported that revenue for the third quarter ending September 30, 2022 was down 20% to $312 million.  For the first nine months of fiscal 2022 revenue was down 30% to $976 million.  Corsair reported a net loss of $6.2 million for the quarter. Analysis Like many hardware companies, the past year has been tough for Corsair.  However, the company beat both revenue and earnings estimates and came in better than expected (the.....

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