Nintendo Raises Forecasts Following Strong Holiday Quarter

Buoyed by increased sales of its Switch console, Nintendo reported operating profit of $2.2 billion (229.7 billion yen), its best quarterly earnings since 2008. Analysts previously estimated the quarter’s earnings at 189.6 billion yen. Nintendo raised its annual forecast, again, to a sale of 26.5 million Switch units, up from 24 million. It also pegged its operating profit forecast 24 percent higher, due to increased sales during the COVID-19 pandemic and hit game “Animal Crossing: New Horizons.” Continue reading Nintendo Raises Forecasts Following Strong Holiday Quarter

Microsoft Confirms the Debut of $299 Xbox Series S Console

Following a series of leaks, Microsoft has now confirmed the existence of another new game console, the Xbox Series S, which it dubs the smallest Xbox ever (60 percent smaller than the Series X). The company said the “slim, white console” will debut “soon,” provide “next-gen performance” and be priced at $299. Reports suggest that Series S and Series X will be available for purchase on November 10 and hint that many Series S features are similar to those of Series X, but with less disc drive and less powerful CPU and GPU. Microsoft stated that the Xbox Series X “will be four times more powerful than its predecessor, the Xbox One X.” Continue reading Microsoft Confirms the Debut of $299 Xbox Series S Console

Video Game Publishers Post Record Profits During Pandemic

Video game publishers Activision Blizzard, Electronic Arts and Take-Two Interactive Software are all on track to post strong earnings this week, the beneficiaries of increased game playing during the COVID-19 pandemic. According to analysts, these publicly traded game publishers have reaped rewards from players spending on virtual goods such as costumes for characters. FactSet predicts the companies will “more than double” their adjusted earnings from the same quarter from the previous year. The global games industry is valued at $149 billion. Continue reading Video Game Publishers Post Record Profits During Pandemic