Financials

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The Outer Worlds has sold over 4 million copies

By Sherif Saed 3 August 2021 10:31 GMT The Outer Worlds has continued to sell well in the months since our last update.As part of Take-Two’s earnings reveal for the Q1 of FY22, the publisher shared some interesting statics about games from its various labels, including Private Division, the publisher behind Obsidian’s The Outer Worlds.Watch on YouTubeThe game now has over 4 million units in lifetime sales. According to industry analyst Dom on Twitter, that’s up 1 million from the last quarter.The Outer Worlds is easily Private Division’s most successful game. The label is working with indie studios on a…

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CD Projekt reports big profit slump in Q1

By Sherif Saed 1 June 2021 13:45 GMT CD Projekt’s 2021 fiscal year is off to a bad start.Cyberpunk 2077 and The Witcher publisher CD Projekt has published [PDF] its earnings for the first quarter of FY2021. Profits dropped by 64.7% to roughly $8.7 million, well below the $21.8 million analysts expected the company to generate.Watch on YouTubeThis is a result of a 2% revenue slump, but mainly because of the company’s continued development to fix Cyberpunk 2077 and create DLC. Although CD Projekt did not say how many copies of Cyberpunk 2077 were sold during the quarter, the publisher…

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Sega examining its back catalogue to see which games can be remastered/remade

By Sherif Saed 13 May 2021 13:03 GMT Sega has revealed a little bit about its business and development strategy going forward.Sega today published [PDF] its earnings for the fiscal year ending March 31. Alongside the usual assortment of figures, the publisher also shared some insight into its plans for the near and far future.Watch on YouTubeFirst, Sega mentioned Creative Assembly’s in-development multiplayer shooter, though did not offer any specifics about the mysterious game. It does appear, however, that Sega considers it a big project, and will be a key part of its strategy for the next couple of years.Sega…

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Call of Duty will be a blueprint for growing the rest of Activision’s games

By Sherif Saed, Friday, 5 February 2021 12:14 GMT Activision’s massive success with Call of Duty recently is informing how the publisher plans to grow its biggest franchises.Activision has announced on Thursday that its success with Call of Duty will inspire how it handles the rest of its catalogue. The publisher, which boasted impressive revenue and growth from Call of Duty, is specifically referring to the series’ multiple points of entry.Previously, Call of Duty was only available through its yearly premium games. Activision, however, sought to expand the player base by offering some version of the best-selling shooter outside of…

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Don’t expect upgraded Nintendo Switch models “anytime soon”

By Dom Peppiatt, Monday, 1 February 2021 16:39 GMT Nintendo has assured fans that they won’t be seeing a Nintendo Switch Pro, or upgraded Switch hardware, in the immediate future.During a private Q&A that followed on from the company’s financial results briefing earlier today, Nintendo has formally stated that we won’t be seeing any sort of upgraded Nintendo Switch hardware in the coming 12 months.As per Bloomberg reporter Takashi Mochizuki, who was present at the briefing, the company is “not planning to make an announcement anytime soon” when it comes to new devices.This was echoed by industry analyst David Gibson who said that Nintendo noted…

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Xbox Game Pass hits 18 million as Xbox hardware sets record sales for Microsoft

By Sherif Saed, Wednesday, 27 January 2021 09:15 GMT Microsoft’s gaming division has had one of its best quarters ever.Microsoft has revealed the financial results for its second quarter of FY21 (ended December 31). Gaming revenue, which encompasses Xbox and PC gaming, brought in $5 billion for the first time, a 51% growth.This was the result of a number of factors, including a new record for Xbox Game Pass. The subscription service now boasts 18 million members, up from 15 million in September last year. Xbox Live likewise saw plenty of activity, and it now has over 100 million monthly…

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GameStop stock hit record high after Reddit-backed short squeeze

GameStop stock surged to its highest recorded share price over the weekend, hitting $76.76 per share on Friday, up nearly 80% in a single day.GameStop’s stock had been steadily rising for the past week, coming up from nearly $20 per share on January 12 and hitting the peak value on Friday thanks to an ongoing campaign from users on the subreddit WallStreetBets and some campaigns by YouTube and TikTok investment accounts (thanks, GamesIndustry.biz).As per Bloomberg (paywall), Friday’s flurry of Reddit-fuelled day-trading made GameStop (or GME) the most actively-traded US stock on the day and even causing trading to be halted multiple times…

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Square Enix financials indicate Marvel’s Avengers hasn’t done as well as hoped

By Stephany Nunneley, Saturday, 7 November 2020 15:20 GMT Square Enix has reported its financials for the first half of its current fiscal year, and it appears Marvel’s Avengers didn’t sell as well as the company estimated.According to the financials (thanks, GI.biz), only major releases such as Final Fantasy 7 Remake and Marvel’s Avengers provided an uptick in revenue for the first half of the year.While an uptick in revenue is always good, it doesn’t seem as though Marvel’s Avengers brought in as much revenue as the firm would have hoped.In the first half of the fiscal year when Final Fantasy 7…

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Call of Duty: Modern Warfare smashes franchise sales record

By Alex Calvin, Monday, 2 November 2020 12:27 GMT Call of Duty: Modern Warfare has sold more copies in its first year than any other entry in the franchise so far.That’s according to publisher Activision, who told investors – as transcribed by Seeking Alpha – that Modern Warfare had smashed series records. Notably, the firm didn’t actually put a figure on how many copies it had shifted in the last 12 months, but two-thirds of these purchases were made digitally.The company also boasts that the premium Modern Warfare and the free-to-play battle royale Warzone have “more than three times” the…

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EA shareholders reject proposed executive pay packages

By Sherif Saed, Tuesday, 11 August 2020 13:51 GMT A majority of EA’s shareholders have voted against EA’s proposed compensation package for its top executives.Early in July, the CtW Investment Group, one of EA’s pro-labour shareholders, urged investors to vote against the Say on Pay proposal. Had it passed, the proposal would have given EA complete control over how well it compensates its top executives outside of their salaries.The annual shareholder meeting in question took place last Thursday, August 6, and CtW’s argument has seemingly worked, convincing 68% of shareholders to reject the executive pay proposal. Over 171 million votes…

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GTA Online to get exclusive content on PS5, Xbox Series X and PC next year

By Sherif Saed, Tuesday, 4 August 2020 12:20 GMT Rockstar wants to make it worthwhile for GTA Online players to embrace next-gen consoles.Take-Two, the parent company of GTA Online developer Rockstar, revealed as part of its Q1 earnings call that the game is getting new content exclusive to PS5, Xbox Series X and PC.The new content will arrive sometime in 2021. GTA 5, of course, was previously announced for PS5 and later Xbox Series X, due for release in the second half of the the year. A standalone version of GTA Online is also due out in the same period…

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PlayStation just had its biggest quarter ever

By Sherif Saed, Tuesday, 4 August 2020 09:29 GMT The global coronavirus pandemic only helped boost PlayStation’s revenue.Sony’s first quarter of FY2020 (April-June 2020) has been PlayStation‘s best ever in terms of revenue, at $5.63 billion. During the quarter, PS4 shipped 1.9 million units, bringing total lifetime shipments to 112.3 million.The figure is certainly up over last quarter’s 1.4M, but significantly down compared to the same period last fiscal year (3.2 million). This downturn in hardware sales is expected, as the console approaches its final days ahead of the launch of PS5. That said, PS4 is still trending ahead of…

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Giving away GTA 5 on the Epic Store only boosted game sales and GTA Online revenue

By Sherif Saed, Tuesday, 4 August 2020 08:45 GMT Not even giving the game away for free could slow down GTA 5’s momentum.Take-Two had a record-setting quarter thanks to its ongoing games. As part of the publisher’s earnings for Q1 of FY2021, CEO Strauss Zelnick touched on the performance of GTA 5 and GTA Online, which somehow continue to set new records.More specifically, the company contextualised the decision to offer the game for free on Epic Games Store for a limited time in May. You’d think that giving the game away for free would negatively impact revenue, but it had…