EA made HOW MUCH $$$$

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What's in this Lootbox?

• 📈 EA's Earnings Report

• 💰 Riot $100M Settlement

• 🤝 Tencent Upping their Ubisoft Position

• 📷 Meme

📈 EA's Earnings Report

Electronic Arts (ticker: EA) reporter earnings on August 2 beating expectations. Here's a quick look at some of the key numbers.

• Q1 FY23 total net bookings came in at $1.299 billion (-3% drop YoY)

• Full Game quarterly net bookings decreased from $282 million to $165 million YoY

• Live Services quarterly net booking increased from $1.054 billion to $1.134 billion YoY

• PC revenue: -6%

• Console revenue: -8%

• Mobile revenue: +15%

EA brought in a strong quarter thanks mostly to the better than expected launch of F1 2022 (thanks Netflix), and the global launch of Apex Legends Mobile. 

EA has been heavily trending towards a Live Services focus and is now increasing their mobile footprint as well.

Checkout their full earnings report here.

💰 Riot $100M Settlement

Riot Games is the studio behind some of the biggest video games on the planet including League of Legends, VALORANT, and the popular animated series ARCANE on Netflix.

They've also had their fair share of gender discrimination lawsuits. 

2 weeks ago a California judge approved a $100 million settlement that is estimated to go out to more than 1000 women.

Full article here.

The gaming industry has a reputation for being a toxic place to work and Riot Games was no exception. The industry has made incredible progress over the last 4 years, but its nice to see the victims get a slice of the settlement.

Fun fact: I actually interviewed for Riot a while back and passed the interview... and then they ghosted me. Super lame so I refuse to play any more VALORANT.

🤝 Tencent Upping their Ubisoft Position

Tencent has been absolutely dominate in the gaming M&A space for years. They own Supercell (makers of Clash of Clans), as well as many many other studios that actually make the mobile versions of games for other publishers. Tencent basically bought their way to a AAA mobile monopoly. PUBG Mobile and Apex Legends Mobile for example were both developed by a Tencent studio.

Tencent bought a 5% stake in Ubisoft (makers of the Assassin's Creed series) back in 2018, and now they're looking to up their stake.

Ubisoft is also well known for Tom Clancy games like Rainbow Six, Ghost Recon, and Splinter Cell. Ubisoft has been refocusing towards mobile and they're heavily banking on their upcoming competitive mobile shooter Rainbow Six Mobile. 

Reuters reports Tencent aims to be the single largest shareholder of Ubisoft which is currently valued around $5.5 billion. 

📷 Meme

Thanks for Reading :)

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