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Jun 9, 2013

Feature: Mobile gaming still eludes a troubled industry

SAN FRANCISCO (Reuters) – To get a sense of how investors view the promise of mobile gaming, one need look no further than Japan’s GungHo Online Entertainment (3765.OS: Quote, Profile, Research). With just one game under its belt, its stock has risen tenfold since October and its market cap almost equals that of decades-old Nintendo (7974.OS: Quote, Profile, Research).

From veterans like Electronic Arts (EA.O: Quote, Profile, Research) to rising stars such as “Clash of Clans” maker Supercell, the $66 billion video game industry is scrambling to devise games and experimenting with ways to appeal to a generation of players that spends more time on mobile devices than on computers or consoles.

Jun 9, 2013

Mobile gaming still eludes a troubled industry

SAN FRANCISCO (Reuters) – To get a sense of how investors view the promise of mobile gaming, one need look no further than Japan’s GungHo Online Entertainment. With just one game under its belt, its stock has risen tenfold since October and its market cap almost equals that of decades-old Nintendo.

From veterans like Electronic Arts to rising stars such as “Clash of Clans” maker Supercell, the $66 billion video game industry is scrambling to devise games and experimenting with ways to appeal to a generation of players that spends more time on mobile devices than on computers or consoles.

May 30, 2013

Glu Mobile dips toe in U.S. real-money games

SAN FRANCISCO, May 30 (Reuters) – Glu Mobile Inc
will allow U.S. players to win cash in one of its mobile games
starting next month, betting that cash-based contests will be a
winning formula to expand revenue in the fledgling and
potentially high-growth mobile gaming sector.

Glu’s stock closed up 3.4 percent at $2.76 on the Nasdaq,
after earlier rising as much as 7 percent.

May 30, 2013

Exclusive: Glu Mobile dips toe in U.S. real-money games

SAN FRANCISCO (Reuters) – Glu Mobile Inc will allow U.S. players to win cash in one of its mobile games starting next month, betting that cash-based contests will be a winning formula to expand revenue in the fledgling but potentially high-growth mobile gaming sector.

The fast-growing mobile game developer, which has struggled to report a profit since it went public in 2007, said it entered into a partnership with San Francisco startup Skillz that provides technology enabling real-money earnings from skill-based mobile games through cash tournaments.

May 23, 2013

GameStop says 2013 outlook improved after Xbox One news

May 23 (Reuters) – GameStop Corp raised the lower
end of its full-year earnings forecast on Thursday after beating
fourth-quarter estimates, counting on a boost from new gaming
consoles due later this year and further growth in digital and
mobile sales.

The videogame industry, which has struggled with declining
sales as gamers migrate to mobile and social media platforms, is
hoping for a strong finish to 2013 with the release of new
titles like Take-Two Interactive Software’s “Grand
Theft Auto V” and Electronic Arts Inc’s “Battlefield 4.”

May 21, 2013

Microsoft unveils Xbox One with Spielberg, Activision tie-up

REDMOND, Washington (Reuters) – Microsoft Corp gave the world a first look at its new Xbox One on Tuesday, announcing that its first gaming console in eight years will come with exclusive video and software content, including a “Halo” series produced by Steven Spielberg.

The Xbox One, which will be available later this year at a price to be announced, will also be the first platform to release the next installment in Activision Blizzard Inc’s blockbuster shooter franchise, “Call of Duty”.

May 18, 2013

New Xbox more than a game console for Microsoft

SAN FRANCISCO/SEATTLE (Reuters) – Microsoft Corp is set to make a splash this week with the eagerly awaited unveiling of its new Xbox game console, eight years after the last version, as it seeks a larger share of the $65 billion a year global computer gaming industry.

But the small device faces some big competition from the PlayStation 4 by Sony Corp and the Wii U by Nintendo Co Ltd in a shifting market.

May 13, 2013

Take-Two revenue and earnings beat Street, shares rise

SAN FRANCISCO (Reuters) – Take-Two Interactive Software Inc (TTWO.O: Quote, Profile, Research, Stock Buzz) reported better-than-expected revenue and earnings in the fourth quarter driven by strong sales of “Borderlands 2,” and assured investors that its flagship “Grand Theft Auto V” title was on track for the holidays.

Take-Two Interactive stock rose about 5 percent to $17.19 in after-hours trading after closing at $16.39 on Nasdaq.

May 8, 2013

Activision Blizzard warns of rocky 2nd half, shares down

SAN FRANCISCO (Reuters) – Video games maker Activision Blizzard Inc warned investors on Wednesday that it expects a challenging second-half and holiday quarter driven by heavy competition and uncertainty around the launch of new video game consoles.

Activision shares were down 6.3 percent at $14.30 in after-hours trading after closing at $15.26 on the Nasdaq.

May 7, 2013

Electronic Arts sees stronger 2014 earnings after overhaul

SAN FRANCISCO (Reuters) – Electronic Arts Inc forecast fiscal 2014 earnings above Wall Street’s expectations as cost cuts take hold and higher-margin digital sales accelerate, lifting the video game publisher’s stock 9 percent.

Electronic Arts, which like the rest of the industry is struggling as players migrate to more casual games such as Angry Birds on mobile devices, estimated fiscal 2014 profit, excluding certain items, of $1.20 a share, beating an average estimate of $1.10.