Microsoft Xbox, Sony PlayStation, Nintendo: Video game earnings round-up

A gamer plays on Sony’s Playstation 5 console at his home in Seoul. Yelim Lee | AFP via Getty Images The giants of the video game world saw their sales slide in the second quarter, as initial tailwinds from the Covid pandemic faded. In the three months ending June, Microsoft, Sony and Nintendo each posted … Read more

China is world’s largest e-sports market despite crackdown: Study

Revenue for China’s e-sports market grew 14% year-on-year in 2021 despite a tough regulatory environment for gaming in the world’s second-largest economy, according to a new report from intelligence firm Niko Partners. E-sports refers to professional gaming where gamers often play each other in big tournaments and fans watch via live streams. China remains the … Read more

Chinese gaming stocks jump after Beijing approves new games

Since April 2022, Chinese regulators have begun approving video games again after a months-long freeze in signs Beijing’s crackdown on gaming is easing. Feature China | Future Publishing | Getty Images Shares of Chinese gaming companies rose Wednesday after regulators approved a slew of new games, a sign that some of the headwinds for the … Read more

TikTok owner ByteDance sees $1 billion in player spend on its games

ByteDance has been investing in its mobile gaming business through key acquisitions and is finding success outside of China. Omar Marques | Sopa Images | Lightrocket | Getty Images Chinese internet giant ByteDance’s nascent foray into gaming is showing signs of promise with spending across its mobile titles growing over the past year as it … Read more

Immortal in China; shares fall

The NetEase Games booth at the China Joy conference in Shanghai on July 30, 2021. Arjun Kharpal | CNBC On China’s Twitter-like service Weibo, the official account of Diablo Immortal is banned from posting for “violating relevant laws and regulation.” It’s unclear which rules the account has broken. NetEase declined to comment further on the … Read more

Sony PlayStation 5 sales to total 18 million; announces share buyback

Sony plans to buy back 200 billion Japanese yen ($ 1.54 billion) of shares as the company announced its operating profit more than doubled thanks in large part to its PlayStation gaming division. The Japanese giant plans to carry out the share repurchase between May 11, 2022, and May 10, 2023, it said, as it … Read more

FIFA video game to disappear as EA Sports partnership ends

FIFA22 game boxes are seen at a store in Krakow, Poland on December 30, 2021. Jakub Porzycki | Nurphoto | Getty Images The FIFA video game will be disappearing after the maker failed to strike a new licensing deal with world soccer’s governing body. Instead, EA Sports FC will be introduced from 2023 after the … Read more

Nintendo plans 10-for-1 stock split; says Switch sales to fall 9%

Nintendo announced a 10-for-1 stock split on Tuesday as the Japanese gaming giant aims to make its shares more appealing to retail investors. Shareholders have been calling for a stock split for some time to boost the liquidity of the gaming giant’s shares. The move will take effect on Oct. 1 this year, when each … Read more

Tomb Raider publisher Square Enix to sell iconic video game franchise

Tomb Raider is one of the most well-known video game franchises of all time. Christian Petersen | Getty Images The iconic Tomb Raider video game franchise is being sold by its Japanese publisher Square Enix as part of a $ 300 million deal. Square Enix said Monday it will offload three of its game development … Read more