Activision Blizzard Revenue Declines

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 Results Disappoint

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 Results Reflect Zynga Acquisition

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 Revenue Declines

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.....
Sony Video Game Results are a Major Disappointment

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 Has Decent Q3

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.....
Konami Shows Revenue Increase for First-Half Fiscal 2023

Konami Shows Revenue Increase for First-Half Fiscal 2023

Konami announced a 6% increase in revenue for the first six months of fiscal 2023, compared with 2022.  However, operating profit declined 35%. Digital entertainment (ie video games) has become the dominant revenue source for Konami accounting for 69% of revenue in the six months ending 9/30/22. Analysis Konami is in several businesses outside of video games including casino slot machines (Gaming & Systems division), arcade games and amusement.....
Ubisoft Results are Okay

Ubisoft Results are Okay

For the first half of fiscal 2023 which ended 9/30/2022, Ubisoft reported net bookings of €700 million, down 2.6% over fiscal 2022, but higher than targeted.  Unfortunately, the company reported an operating loss of €139 million versus an operating income of €44 million for the previous year’s first half. Analysis Ubisoft struggled with product delays and development pipeline issues before COVID.  Three years ago this time, Ubisof.....