Video Game Company Roblox Files for IPO
The user-generated gaming platform, hugely popular with kids, has yet to turn a profit.
Take-Two Acquires Playdots for $192M
Playdots has made three popular games—Dots, Two Dots, and Dots & Co.—that have been downloaded more than 100 million times.
Zynga Rides Gaming Binge to Record Quarter
“We are living in unprecedented times and more people than ever before are turning to games for entertainment and a sense of community."
Microsoft Scraps Game Streaming Platform
Microsoft tried to compete with Amazon's Twitch but its Mixer service saw "almost no growth in a medium that has otherwise been exploding."
Video Game Sales Hit Record $10.8B in Q1
Consumers confined to their homes by COVID-19 are turning to games not only as a diversion but also for social connection.
GameStop Shares Drop 29% After Dividend Halt
The video game retailer will save about $157 million a year by eliminating the dividend as it struggles with shrinking profits.
Free-to-Play Games Weigh on Take-Two Sales
Take-Two's Q4 adjusted revenue missed estimates amid pressure from online and free-to-play video games such as Fortnite.
Activision Blizzard to Lay off 8% of Workforce
Most of the job cuts will come from support staff as the video game publisher prioritizes investment in its biggest franchises.
GameStop Misses Estimates, Exploring Sale
The retailer believes it can still "leverage our industry-leading position to drive growth in the second half" of the year.
GameStop Hardware Sales Jump 45% in Q4
Strong demand for Nintendo Switch, PS4 Pro, and Xbox One X consoles powered the retailer's 12.2% gain in same-store sales.
GameStop Shares Plunge on 13% Sales Decline
The company believes its shift toward non-gaming businesses is paying off and sees "an abundance of business opportunities."