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How the video games industry is faring
Wednesday - 5/1/2013, 5:41pm EDT
The Associated Press
Companies in the video games industry have begun releasing earnings reports for the latest quarter. Here's a look at selected companies that make or sell video games or machines.
-- April 3: Mobile game developer Rovio Entertainment Ltd. says the popular Angry Birds franchise helped it double revenue in 2012 to 152 million euros ($195 million). Net income surged more than 55 percent to 55.5 million euros ($71.2 million).
-- April 18: Microsoft Corp. says revenue from its Xbox 360 business grew by $641 million, or 55 percent, in the January-March quarter. That's from higher revenue from its Xbox Live service and the recognition of $380 million in deferred video game revenue. Revenue is deferred when video games are sold with software upgrades and enhancements. Like other video game companies, Microsoft spreads that out over time, while the game is played, rather than all at once.
-- April 24: Zynga Inc.'s surprise profit in the first three months of the year gets overshadowed by a revenue decline, a drop in the number of users and a lower-than-expected second-quarter forecast. The online games company manages a small profit of $4.1 million, or breakeven per share, by cutting expenses. CEO Mark Pincus says 2013 will "continue to be a transition year."
Nintendo Co. says it returned to profit for the fiscal year that ended March 31 as a lift from the weakening yen offset sales struggles caused by software delays for its latest home console, Wii U. Both profit and sales results are slightly worse than the projections of analysts surveyed by FactSet. Wii U sales of 3.45 million units fell short of Nintendo's target of 4 million units in the fiscal year. That already had been lowered from an earlier projection of 5.5 million.
Microsoft sends out invites to an Xbox event on May 21. That's when the company will likely reveal its next video game console.
-- May 1: Activision says the next installment in its successful "Call of Duty" franchise will be titled "Call of Duty: Ghosts" and feature a new story and characters. It will be released Nov. 5 for PC, PlayStation 3, Xbox 360 and next-generation consoles.
-- May 8: Activision Blizzard Inc.
-- May 9: Sony Corp. (PlayStation)
-- May 13: Take-Two Interactive Software Inc.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.