Malathi's Feed
May 7, 2014

‘Farm Heroes’ boosts King Digital’s profit but shares fall

May 7 (Reuters) – King Digital Entertainment Plc’s
stock plummeted about 10.5 percent on Wednesday, even as the
maker of the popular mobile game “Candy Crush Saga” reported
better-than-expected first-quarter results.

Investors have been concerned about the company’s
over-reliance on its most-successful game “Candy Crush Saga,”
which accounted for two-thirds of its gross bookings.

Apr 30, 2014

Microsoft’s Xbox One console to go on sale in China in September

SAN FRANCISCO (Reuters) – Microsoft Corp will begin selling its Xbox One video game console in China in September through its partnership with Chinese Internet TV company BesTV New Media Co, the company said on Tuesday.

The partners will also kickstart a program to help developers create, publish and sell Xbox One games in China and other markets where the console is sold, Microsoft said in a statement.

Apr 23, 2014

Zynga’s Pincus withdraws from operations amid turnaround

SAN FRANCISCO (Reuters) – Zynga Inc (ZNGA.O: Quote, Profile, Research, Stock Buzz) co-founder Mark Pincus is relinquishing the last of his operational duties at the social gaming company starting on Wednesday and retreating to an advisory role as Chief Executive Officer Don Mattrick pushes through a restructuring plan.

Zynga shares were up 5 percent in after-hours trading on Wednesday after closing at $4.42 on the Nasdaq.

Apr 17, 2014

Sony sells more than 7 million PlayStation 4 consoles

SAN FRANCISCO (Reuters) – Sony Corp said on Wednesday it sold more than 7 million PlayStation 4 videogame consoles in just over four months to April 6, double the number of the older version, PlayStation 3, sold in about the same time frame after its launch.

Sony is struggling to keep pace with demand for the videogame console, the Japanese company said in a statement.

Apr 10, 2014

Zynga names former Best Buy executive chief financial officer

SAN FRANCISCO (Reuters) – Zynga Inc has appointed former Best Buy executive David Lee its chief financial officer as Zynga continues reshuffling its ranks to try to return the “Farmville” creator to growth.

Lee, 42, will step into the role on April 14 and replace current Chief Financial Officer Mark Vranesh who has decided to leave the company, the games publisher said in a statement.

Apr 8, 2014

Big push into gaming brings out Amazon’s gentler side

SAN FRANCISCO (Reuters) – Inc, a company known for its ruthless drive, is courting the free-wheeling coders and dreamers of the gaming industry with a lighter touch as it seeks to break into an arena now dominated by Apple and Google.

The online retailer, infamous for undercutting rivals and pressuring suppliers, hopes that making nice with game developers will help it build a vibrant app platform on its new Fire TV and gain ground in an area where it severely lags the competition.

Apr 5, 2014

Dig planned in New Mexico to unearth millions of 1980s video game cartridges

SAN FRANCISCO (Reuters) – Searchers, accompanied by documentary filmmakers, plan to scour a New Mexico landfill in an attempt to unearth a legendary dump of millions of unwanted “E.T. the Extra-Terrestrial” video game cartridges rumored to have been buried at the site in the early 1980s, organizers said on Friday.

The suspected entombment in the small city of Alamogordo has become a point of intrigue for gamers over the past three decades, as the product tie-in to the classic 1982 movie “E.T. the Extra-Terrestrial” was a mammoth flop, remembered as having contributed to a sudden collapse of the video game industry in its early years.

Apr 1, 2014

YouTube sees money in gaming-video eyeballs

SAN FRANCISCO (Reuters) – To imagine how YouTube might one day become a money-spinner for content producers, consider the power of the irreverent video gamer and online star PewDiePie over his young, free-spending audience.

Each time the wildly popular YouTube impresario has donned Razer headphones in one of the many zany videos that feature him playing games, the product has sold out.

Mar 27, 2014

GameStop shares fall as 2014 forecast disappoints

March 27 (Reuters) – Video game retailer GameStop Corp
, forecast full-year earnings below market expectations
as it is yet to see an uptick in sagging video game software
sales, despite robust hardware sales driven by the launches of
Microsoft’s Xbox One and Sony’s PlayStation 4 consoles.

GameStop shares fell as much as 9.3 percent in morning
trading on Thursday, making the stock one of the top percentage
losers on the New York Stock Exchange.

Mar 26, 2014

Candy Crush maker King Digital shares sour in market debut

By Neha Dimri and Malathi Nayak

(Reuters) – Shares in King Digital Entertainment Plc fell as much as 15 percent in their Wednesday debut, underscoring concerns about the company’s reliance on “Candy Crush Saga” and dashing hopes its coming-out party would revive investor interest in the mobile gaming industry.

Mobile gaming executives had looked to London-based King’s IPO, the largest by a gaming company since Zynga Inc went public in 2011, to help sweep aside skepticism over a notoriously fickle, volatile market.