Electronic Arts Reports Record Revenue

Electronic Arts Reports Record Revenue

For its fiscal year ending 3/31/23, Electronic Arts (NASDAQ: EA) reported record revenue of $7.4 billion, up 6% from fiscal 2022.  For the fourth quarter FY 23 revenue was up 3% to $1.87 billion.  The biggest growth area for EA has been live services which was up 10% YOY in fiscal 2023 and 8% in Q4. Analysis At $1.87 billion, EA’s Q4 revenue beat its estimate of between $1.7 to $1.8 billion.  However, this was after EA had .....
Nintendo Results Meet Expectations

Nintendo Results Meet Expectations

For its fourth fiscal quarter ending 3/31/2023, Nintendo (7974.T-JP: Tokyo) (NTDOY: OTC) reported revenue was down year-over-year 18% to ¥306,499 million.  For the full fiscal year 2023, revenue was down 6% to ¥1,601,677 million.  Switch hardware sales for the fiscal 2023 were 18 million versus 23 million in fiscal 2022.  Software unit sales were down 9% to 214 million units. For fiscal 2024, Nintendo is forecasting sales to be down 9.5% and net profit down 21.4.....
PlayStation 5 Sales Set Record

PlayStation 5 Sales Set Record

The Games and Network Services division of Sony Group (NYSE: SONY) reported a 61% year-to-year revenue increase for the fourth quarter ending 3/31/23.  Game hardware revenue was up 180% as Sony sold 6.3 million PlayStation 5 systems.  Network services revenue was up 14%, while software was up 11%. Analysis This was the news everyone was waiting for.  After Microsoft repor.....
Activision Blizzard Has Strong Start to 2023

Activision Blizzard Has Strong Start to 2023

For the first quarter of 2023 ending 3/31/23, Activision Blizzard (NASDAQ: ATVI) reported revenue increased 35% over the previous year to $2.38 billion.  Net bookings were up 25% to $1.86 billion.  Net income for the quarter was $740 million compared with $395 million for the first quarter of 2022. In its financial release Activision commented on the U.K. CMA decision to block its acquisition by Microsoft.  The company stated: Activision Blizzard considers tha.....
Sony Acquires Video Game Studio

Sony Acquires Video Game Studio

Sony Interactive Entertainment (SIE) announced it has agreed to acquire Firewalk Studios from ProbablyMonsters Inc.  Previously SIE and Firewalk had announced an exclusive publishing partnership for an upcoming game.  Analysis ProbablyMonsters was founded in Bellevue, WA in 2016, with Firewalk St.....
Video Game Stock Portfolio has 20% Return for the First 3 Months of 2023

Video Game Stock Portfolio has 20% Return for the First 3 Months of 2023

Video game stocks did well in the first quarter of 2023.  Stocks in the general video game stock index were up 15% while stocks in the DFC Intelligence Video Game Stock Portfolio showed a 20% return between the first week of January through early April.  This compares with only a 7% increase for the S&P 500. Hardware companies had the strongest gains with Turtle Beach (NASDAQ: HEAR) increasing 52% and Corsai.....
Sega Acquires Angry Bird Developer Rovio

Sega Acquires Angry Bird Developer Rovio

Sega Sammy Holdings (6460.T-JP: Tokyo) has announced plans to acquire Finland-based Rovio Entertainment for 706 million euros (about $776 million).  The tender offer bid will be launched around May 8.  The offer represents a 19% premium over the current stock price. Analysis Rovio is noted for the Angry Birds franchise which in recent years has enjoyed most of its success on mobile platforms.  Angry Birds was released in 2009 and was an early mobile.....