Malathi's Feed
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.

May 7, 2013

Video game maker drops gun makers, not their guns

SAN FRANCISCO, May 7 (Reuters) – In the midst of the bitter
national debate on gun violence, gun manufacturers and videogame
makers are delicately navigating one of the more peculiar
relationships in American business.

Violent “first-person shooter” games such as “Call of Duty”
are the bread and butter of leading video game publishers, and
authenticity all but requires that they feature brand-name
weapons.

May 6, 2013

Electronic Arts, Disney strike “Star Wars” games deal

SAN FRANCISCO, May 6 (Reuters) – Electronic Arts and
Walt Disney Co sealed a multi-year licensing deal under
which the video game publisher will develop games for mobile
devices, PCs and consoles based on the “Star Wars” movies.

Disney, which bought George Lucas’s Lucasfilm Ltd and the
blockbuster sci-fi franchise for $4.05 billion in October, will
retain the rights to develop online and mobile games, both
companies said in a statement on Monday.

Apr 24, 2013

Microsoft to reveal next-generation Xbox on May 21

SAN FRANCISCO (Reuters) – Microsoft Corp will unveil its much-anticipated next-generation Xbox on May 21 following months of speculation the company is gearing up to announce a new video game console this summer.

The company sent out media invitations on Wednesday, hinting it would be announcing the successor to its seven-year old Xbox 360. A new console from the software company will come on the heels of rival Sony’s announcement in February that it will launch the PlayStation4 this holiday season.