GameStop Stock Falls On Q1 Results; Hires New CEO, CFO
The video game retailer hired two Amazon veterans to help it make a push into e-commerce.
Electronic Arts Goes Mobile With $2.4B Glu Buy
With the addition of Glu Mobile games such as “Kim Kardashian: Hollywood,” EA will double the size of its mobile business.
EA to Buy U.K. Gaming Company Codemasters for $1.2B
The Codemasters board of directors chose the EA deal over an earlier offer from Take-Two Interactive.
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.