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Capcom Sees Significant Growth Driven by SF6 and RE4
Capcom has unveiled its financial results for the first nine months of its fiscal year, marking a highly successful period for the company. Key Business Highlights - Net sales reached ¥106 billion ($723 million), representing a 33% year-over-year increase - Operating income stood at ¥47.7 billion ($325 million), up 43% from the previous year - Net income was ¥34.6 billion ($236 million), a 47%…
Jan. 31, 2024, 3:21 p.m.
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Sega of America Announces 61 Job Cuts
Update: The Allied Employees Guild Improving Sega has responded to the news on social media, linking the layoffs to the previously announced plan to phase out temporary workers by February 2024. The union had been in talks since November to negotiate the situation and confirmed the 61 job cuts. According to the union, their efforts have resulted in saving more than double the number of jobs and o…
Jan. 31, 2024, 11:19 a.m.
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Order of Meta Secures $3.3 Million in Funding for Mobile Studio
Order of Meta, a Finnish mobile game development studio, has successfully raised $3.3 million in its seed funding round. According to reports by Pocket Gamer, the investment will be utilized to support the development and launch of its inaugural title, Cargo Hunters, an extraction shooter slated for release this year. The funding round was spearheaded by GEM Capital, with additional contributions…
Jan. 31, 2024, 10:42 a.m.
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Microsoft Sees 49% Increase in Xbox Revenue Following Activision Blizzard Acquisition
Microsoft's latest financial report reveals the significant impact of its $68.7 billion acquisition of Activision Blizzard, with Xbox revenue experiencing a year-over-year growth of 49%. The acquisition, which was completed in October, added hundreds of games and millions of users to Microsoft's gaming division, resulting in increased operating expenses. Although the Activision Blizzard deal bo…
Jan. 31, 2024, 10:35 a.m.
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EA Sports FC 24 Surpasses Projections, Drives EA's Q3 Expansion
Electronic Arts has released its Q3 FY24 earnings report, covering the period ending December 31, 2023, which reveals modest revenue growth and a substantial increase in profits that exceeded the company's projected range. The key financial highlights include: Revenue of $1.95 billion, representing a 3% year-over-year increase; Net income of $290 million, up 42% from the previous year; and Net bo…
Jan. 30, 2024, 9:44 p.m.
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Gaming Industry Roundup: January 2024 | Hutch Appoints Co-CEO
Staying on top of the ever-changing landscape of the gaming industry can be a daunting task, which is why we've compiled the latest appointments and transitions in a semi-regular roundup. If your company has any new hires or staff changes you'd like to share, please send the details to newhires@gamesindustry.biz. Recently, Hester Woodliffe was named chair of Video Games Europe, a position that wi…
Jan. 30, 2024, 6:39 p.m.
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Industry Insights: Apple Fees, Microsoft Layoffs, and the Future of Deus Ex
The newest installment of the GamesIndustry.biz Microcast is now available for download, with the video version coming soon. This episode begins with an examination of the recent Eidos Montreal layoffs and the cancellation of a new Deus Ex title, exploring the potential implications for the franchise's future and other affected franchises like TimeSplitters, whose fate is tied to the Embracer Gro…
Jan. 30, 2024, 5:44 p.m.
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Farming Simulator 22 Reaches 6 Million Units Sold
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Jan. 30, 2024, 4:18 p.m.
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Loric Games Secures $4 Million in Funding and Appoints New Chief Production Officer
Loric Games has successfully raised $4 million in its most recent funding round, with 1AM Gaming and Hiro Capital leading the investment. The funds will be utilized to support the studio's current game development projects. Founded in 2022 by industry veterans Brian Johnson, Ray Soto, and Rob Denton, Loric Games is based in Arlington, Virginia. In addition to the funding, the studio has announced…
Jan. 30, 2024, 3:49 p.m.
News
Aonic Launches Megabit, a New Publishing Venture
Aonic has introduced its latest publishing division, Megabit, designed to support the company's development studio network. Megabit's primary focus will be on providing publishing services to Aonic's in-house and external game development partners. Under the leadership of Managing Director of Global Publishing Benjie Clarke, the division is poised to make a significant impact. With a robust lineu…
Jan. 30, 2024, 2:39 p.m.