Apple posts record fourth quarter results
Company reports its best September quarter in history on increased iPhone, iPad and Mac sales.
Company reports its best September quarter in history on increased iPhone, iPad and Mac sales.
Apple share value hit a record high yesterday following the hugely successful launch of the iPhone 4S over the weekend. Following sales of the smartphone reaching four million, Apple's share price rose to peak at $426.38 before closing at $419.99. More >
1Following several delays, a new SEC filing has revealed that Zynga will list its forthcoming IPO on the NASDAQ stock exchange under the ticker symbol ZNGA. Zynga initially filed for the IPO back in July, aiming to raise near or above $20 billion in the sale of ten per cent of its shares. In what was described as an "unprecedented" move for a technology company, Zynga subsequently tweaked its stock structure to ensure CEO Mark Pincus has 70 times the voting power of those who buy shares. More >
How much is a Chinese gamer worth? How do you make a $50,000 Flash game? Flash Game License co-founder Chris Hughes blows open the scene.
Research cites significant growth outside of the social network giant in emerging markets.
In the second part of our week-long series on Flash gaming, we find out what makes it so financially alluring to indie devs.
According to a new study by E-skills UK, the sector skills council for business and information technology, UK developers are more concerned by the general state of the economy than the oft-referenced Game Tax Relief. The report, passed to Develop, polled 80 British studios and asked them to rate a list of issues on a scale of zero (no concern) to three (priority concern). The respondents rated the general health of the economy at an average of 1.8, ahead of exchange rate fluctuations on 1.5. More >
Sony says the recent fall in value of the euro against the Japanese yen will have a "huge impact" on its revenue. Bloomberg reports that the euro fell to a ten-year low of ¥101.94 earlier this month and has fallen 11 per cent against the yen in the last three months alone. Sony's most recent earnings forecasts were based on the assumption that the euro would be worth around ¥115, meaning it faces a shortfall of over 11 per cent. More >
Retailer's six-monthly losses more than double despite 40 per cent spike in digital sales.
6According to a regulatory filing seen by Reuters, Zynga's profits last quarter fell by 90 per cent, with the blame pinned on increased spending and the absence of any major game releases. More >
Capcom has significantly revised its earnings outlook for the first half of the fiscal year ending March 31, 2012, based on better than expected performances across a number of its business units. The company now expects net sales for the six months ending September 30 to total 28 billion yen (£231 million), up from its May 6 outlook of 26 billion yen (£214 million), and net profits of 800 million yen (£6.6 million), 300 per cent higher than previously forecast. Explaining the revisions, the company said its Mobile Contents business “is performing well mainly because of the popularity of Smurfs' Village”, its Consumer Online Games business “has benefited from strong sales of Monster Hunter Frontier Online and other titles”, and its Arcade Operations unit “is performing well because operations have resumed at all locations that were closed after the Great East Japan Earthquake, sales at existing arcades have recovered, and the impact of the electricity shortage was not as severe as expected”. The company didn’t make any changes to its full fiscal year forecast “because the economic outlook is becoming increasingly uncertain and market conditions are changing rapidly”.
Majesco has raised its financial outlook for the full fiscal year after swinging to a profit in its third quarter ended July 31, 2011. Net revenues for the three month period were up 61 per cent year-over-year to $19.5 million (£12.3m), while net income hit $1.9 million (£1.2m) versus a loss of $1.6 million (£1m) a year earlier. For the nine months ended July 31, Majesco’s net revenues increased 92 per cent to $100.2 million (£63.4m), while net income was up from $0.6 million (£380,000) to $10.7 million (£6.8m). CEO Jesse Sutton said: "Despite what is normally a seasonally weak time for our business, Majesco experienced another strong quarter. Driven by strength in Europe this past quarter, Zumba Fitness has now sold over three million units worldwide. The growth of the Zumba phenomenon overall has us very excited about Zumba Fitness 2, the much anticipated sequel coming this November for Wii.” The company raised its full year outlook, with net revenues now expected to range from $120-$130 million, up from the prior forecast of $110-$120 million. Majesco now anticipates non-GAAP earnings per share of $0.35-$0.38, up from its previous guidance of $0.30-$0.35.
Is the Japanese giant's reign coming to an end as investors and customers lose confidence?
27The retailer announced a huge loss of £121.7 million in June, and despite offloading HMV Canada and bookshop chain Waterstone's its misery continues. Sales in the eighteen weeks to September 3 fell 21.8 per cent, but an increased focus on technology in selected stores saw their sales more than double. As such it is to roll out its new shop-floor strategy to the majority of its 150 stores before the end of the month.
3Says closure of Homefront developer Kaos and four other studios this year is part of its "fewer, bigger" strategy; Montreal headcount to more than double in two years.
Andriasang brings word from Nikkei that Sony's stock, which has been falling for the last three days, has now hit its lowest level of the year, which one investment manager pinned on yesterday's announcement that Dragon Quest X is headed to Wii and Wii U. Investors are a fickle bunch, and concern over the potential impact on Sony's game business should not be taken as a sign that the financial community is leaning back towards Nintendo. Square Enix's shares fell ten per cent day on day, presumably a result of the company putting all its eggs in the basket of a company whose share price has been in and out of the doldrums for the past few months.
The French mobile developer's financial results for the six months to June 30 showed profits of €5.3 million (£4.69 million), the same figure it reported this time last year. This comes despite an increase in sales revenue of 15.3 per cent, to €76.8 million (£68 million). Gameloft has chosen to pump an extra €5 million into R&D;, with administration costs also rising, but the firm says it is in a healthy financial position, claiming sales of smartphone and tablet games during the first six months of 2011 were up 55 per cent year on year.
LA Noire studio now in external hands and facing a battle to stave off insolvency.
Kickstarter project passes $30,000 goal with days to spare, but organisers say: "This is just the beginning."
In what is being described as an "unprecedented" move for a technology company, Zynga has changed the structure of its stock to give CEO Mark Pincus 70 times the voting power of those who buy its shares on the stock market. Each of Pincus' shares will be worth 70 votes, with current stockholders' shares worth 10 votes, and those that bought shares after Zynga filed for an IPO get just one vote per share. One observer said the move may have been designed to ensure that Zynga staff with stock options do not have the power to outvote Pincus, who founded the company in 2007 and, with a 16 per cent share, is its majority shareholder.
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