Malathi's Feed
May 13, 2014

Take-Two profit, revenue drop but beat forecasts

SAN FRANCISCO (Reuters) – Video game publisher Take-Two Interactive Software’s profit and revenue fell less than expected in the fourth quarter and it forecast fiscal 2015 earnings in line with Wall Street’s estimates on Tuesday.

Shares in Take-Two fell about 3 percent in after-hours trading after closing at $20.63 on Nasdaq.

May 13, 2014

Microsoft slashes Xbox price, frees up Netflix and other popular apps

SAN FRANCISCO, May 13 (Reuters) – Microsoft Corp
will take $100 off the price of its Xbox One gaming console and
let users view popular entertainment apps such as Netflix and
ESPN without a $60-plus “Live” subscription, hoping to spur
sales against rival devices like Sony’s Playstation 4
and Amazon’s Fire TV.

The moves mark another reversal for the software giant on
the Xbox One, which is lagging Sony’s PS4 in sales and faces
competition from existing consoles, streaming boxes such as
Apple TV and Amazon’s new $99 gaming-and-entertainment device.

May 7, 2014

‘Candy Crush’ maker King serves up bittersweet results, shares fall

By Malathi Nayak and Lehar Maan

(Reuters) – King Digital Entertainment Plc’s stock plummeted about 15 percent on Wednesday as signs that the company may be losing steam overshadowed better-than-expected quarterly results from the maker of hit mobile game “Candy Crush Saga.”

King, reporting for the first time since a disappointing initial public offering earlier this year, told analysts on a conference call that some players of King’s two-year-old signature title were spending less money in the game, as it matures.

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.