Tencent’s Riot Games Pays $US100 million in Gender Discrimination Case

Game maker Riot Games, the video game maker said on Monday evening agreed to pay $US100 million to settle a gender discrimination suit with more than 2000 current and former female employees. The class-action lawsuit was filed in 2018 than in early 2020, two California employment agencies intervened to block the settlement, arguing that the women could be entitled to more than $US400 million. California had been investigating the company after claims of sexual harassment, discrimination, unequal pay and retaliation … Continue reading “Tencent’s Riot Games Pays $US100 million in Gender Discrimination Case”

Nvidia Record Quarterly Revenue in Gaming, Data Center, and Professional Visualization

NVidia beat both earnings and revenue expectations in the third quarter of 2021. Revenue for the third quarter was a record $7.10 billion, up 50 percent from a year earlier. Record quarterly revenue was achieved in Gaming, Data Center, and Professional Visualization. Gaming revenue was up 42 percent from a year ago and up 5 percent sequentially Q3 2021 Earnings NVDA reported adjusted earnings per share of $1.17 and revenue of $7.1 billion. Analysts expected $1.11 earnings per share and … Continue reading “Nvidia Record Quarterly Revenue in Gaming, Data Center, and Professional Visualization”

Grand Theft Auto Publisher Take Two Interactive Again Reported Stronger Earnings

Video game publisher Take-Two Interactive Software reported better than expected earnings Tuesday. NBA 2K21 and NBA 2K20, Grand Theft Auto Online and Grand Theft Auto V, Red Dead Redemption 2 and Red Dead Online, Social Point’s mobile games, Sid Meier’s Civilization VI, Borderlands 3, and NBA Online boosted $TTWO.

Video Game Developer Roblox Launches IPO After Revenue Triples Since Pandemic

Video game developer Roblox launches on March 10 through a direct listing after raising $520 million from investors in a private funding round. The deal gives Roblox a $29.5 billion valuation at $45. The shares will trade under the ticker ‘RBLX’ on the New York Stock Exchange.

Gamestop Report Earnings With Chewy Founder Cohen Betting on E Commerce Evolution

Video game retailer GameStop reported mixed third quarter earnings after the close Tuesday  $GME stock has been a hot stock in 2020 with investors like Scion’s Michael Burry and Chewy’s Ryan Cohen and is one of the most heavily shorted stocks on the market with approximately 90% of the shares in lending programs. $GME fell 20% on the report.

Activision Blizzard Revises Earnings Higher on Soaring Gaming Engagement and Revenue Due to Lockdown

Video game publisher Activision Blizzard reported better than expected second quarter earnings and guided its full year 2020 guidance. $ATVI saw growth from World of Warcraft Classic and core games include Overwatch, Call of Duty, and Candy Crush mobile games.

TakeTwo Interactive Raises Guidance on Grand Theft Auto, NBA 2K20 and Red Dead Redemption 2 Games

Video game publisher Take-Two Interactive Software raised guidance despite lower than expected earnings Monday. NBA® 2K20, Grand Theft Auto® Online, Grand Theft Auto V, Red Dead Redemption 2 , Red Dead Online, Sid Meier’s Civilization® VI and Social Point’s mobile games helped $TTWO raise guidance.

Electronic Arts Earnings Soar with Stay at Home Gamers During Covid Lockdown

Video game publisher Electronic Arts reported better than expected June quarter earnings after the market Thursday. The Covid lockdown saw gamers exceed all forecasts of interactions and purchasers. $EA guided higher for next quarter.

NVidia Earnings and Revenue Led By Data Center With Over $1 Billion in Revenue for First Time

Graphic Chips maker NVidia reported better than expected first quarter earnings and revenue after the close Thursday. $NVDA data center business reported over $1 billion in revenue for the first time. The cloud, to the edge, where GPU-accelerated 5G, AI and IoT will revolutionize the world’s largest industries.