Malathi's Feed
May 22, 2012

Take-Two raise 2013 forecast, Street looks for GTA V

SAN FRANCISCO, May 22 (Reuters) – Take-Two Interactive
Software raised its revenue forecast for fiscal 2013
with investors expecting the latest installment of its
blockbuster “Grand Theft Auto” franchise,
sending its shares up 6 percent.

Take Two executives would not be drawn on the release
schedule for the highly anticipated, fifth installment of the
action-adventure game. But National Alliance Capital Markets
analyst Mike Hickey said the raised guidance implies “Grand
Theft Auto:V” would be out this year.

May 17, 2012

Intuit hopes to tack on more online customers

SAN FRANCISCO (Reuters) – Intuit (INTU.O: Quote, Profile, Research, Stock Buzz), the maker of tax-preparation software TurboTax, forecast yearly results that matched Wall Street’s expectations and hopes to expand its online customer base next year.

The company has to do more to create a buzz around its online tax products and sway taxpayers towards digital tax preparation, executives said.

May 17, 2012

GameStop forecasts profit below view, shares tumble

By Malathi Nayak

(Reuters) – GameStop Corp (GME.N: Quote, Profile, Research, Stock Buzz) forecast second-quarter earnings below estimates as the world’s largest retailer of video game products struggled with slowing videogame hardware and software sales.

Shares tumbled nearly 10 percent at $18.82 on Thursday afternoon on the New York Stock Exchange.

May 16, 2012

THQ slips into the red in fourth quarter, more pain ahead

SAN FRANCISCO (Reuters) – Video games publisher THQ Inc (THQI.O: Quote, Profile, Research) slipped to a loss in its fiscal fourth quarter, as it struggled with intensifying competition, a weak market and restructuring.

THQ, which is fighting to avert a stock delisting, has been losing ground to larger rivals like Activision Blizzard Inc (ATVI.O: Quote, Profile, Research). After a spell of weak sales, Nasdaq told the company in January it had until July 23 for its shares to close above $1 for at least 10 straight sessions, or be delisted.

May 16, 2012

THQ slips into the red in Q4, more pain ahead

SAN FRANCISCO, May 15 (Reuters) – Video games publisher THQ
Inc slipped to a loss in its fiscal fourth quarter, as
it struggled with intensifying competition, a weak market and
restructuring.

THQ, which is fighting to avert a stock delisting, has been
losing ground to larger rivals like Activision Blizzard Inc
. After a spell of weak sales, Nasdaq told the company
in January it had until July 23 for its shares to close above $1
for at least 10 straight sessions, or be delisted.

May 11, 2012

GameStop Q1 same-store sales dive but outperform market

May 10 (Reuters) – GameStop Corp’s same-store sales
plummeted 12.5 percent year on year and earnings dipped in the
first quarter, as the U.S. retail chain struggled with slowing
video game hardware and software sales.

The company, which announced rudimentary earnings ahead of
fuller results to be unveiled May 17, reported earnings of 54
cents a share in the first quarter, compared to 56 cents a year
earlier.

May 9, 2012

Activision stems Warcraft bleeding, eyes holiday

SAN FRANCISCO (Reuters) – Activision Blizzard Inc raised its earnings outlook on Wednesday and showed investors it was able to bring an end to the exodus of subscribers from its largest Internet game, “World of Warcraft,” that had hurt the company in recent quarters.

Investors closely watch subscriber numbers for “World of Warcraft” because the franchise is the company’s most profitable business and generates a steady stream of recurring revenue from millions of users who pay $15 a month to play it.

May 9, 2012

Activision keeps Warcraft subscribers in first quarter

By Malathi Nayak and Liana B. Baker

(Reuters) – Activision Blizzard Inc (ATVI.O: Quote, Profile, Research) raised its earnings outlook on Wednesday and showed investors it was able to bring an end to the exodus of subscribers from its largest Internet game, “World of Warcraft,” that had hurt the company in recent quarters.

The game maker now expects annual earnings per share of 95 cents on revenue of $4.53 billion, which is below Wall Street’s expectations of 97 cents per share on revenue of $4.57 billion. For the second quarter, it expects EPS of 10 cents per share on revenue of $805 million, which misses analyst estimates of 16 cents per share on revenue of $822.16 million.

May 9, 2012

Activision Blizzard profit, revenue drops

May 9 (Reuters) – Activision Blizzard Inc was able
to hold onto subscribers of its most profitable game, “World of
Warcraft,” in the first quarter and the largest video game
publisher in the United States raised its earnings outlook for
the year.

The game maker now expects earnings per share of 95 cents
per share on revenue of $4.53 billion, which is below Wall
Street’s expectations of 97 cents per share on revenue of $4.57
billion.

May 7, 2012

Google infringed on some Oracle Java copyright: jury

SAN FRANCISCO (Reuters) – A Northern California jury on Monday found that Google Inc infringed upon Oracle Corp’s copyrights on the structure of part of the Java software programming language, in a high stakes trial over smartphone technology.

However, the jury failed to decide after days of deliberation whether Google had the right to fair use of that copyrighted structure.