Nintendo Stock Plummets Following Impressive Earnings Report
Investors are bullish on Nintendo Stock following the gaming giant’s Q1 earnings reports with a 428% boost in revenue.
Gaming News
Explore the latest news from the world of gaming that include reviews of the most exciting releases, coverage of the major updates and key related topics 
Gaming Giant Nintendo Reports 428% Increase in Q1 Profits
Gaming giant Nintendo has reported a 428% increase in its Q1 profits. It joined other gaming firms that have managed to record gains despite the COVID-19 crisis.
Sony (SNE) Stock Close to 19-Year High, PlayStation 5 Driving Bull Run
Yesterday Sony (SNE) stock closed with a 2.58% increase, at $83.37. However, today Sony stock is 2.42% down, trading at $81.36.
MSFT Stock Retreats from Record High Although Microsoft Unveils New Xbox Games
Microsoft Corp. stock (Nasdaq: MSFT) fell 4.35% on Thursday to close the day at $202.54, however it was 0.54% up in the after hours. Shares were downgraded to ‘hold’ rating despite the company unveiling new Xbox games.
MSFT Stock Down 2%, Microsoft to Launch Cloud Gaming Service Publicly in September
Microsoft (MSFT) stock is moving higher these days to reach new ATHs. The company is going to launch its cloud gaming service publicly in September.
Sony Acquires $250 Million Stake in Creator of Fortnite Epic Games
By Tolu Ajiboye
Sony has taken a decision to invest $250 million into Epic Games, in a strategic move to continue the working relationship between the two major gaming giants.
Microsoft Abandons Mixer Service, Partners with Facebook Gaming
By Tolu Ajiboye
Microsoft will shut down its Mixer platform for a partnership with Facebook Gaming. The two companies will take advantage of Microsoft’s xCloud.
NetEase to Go Global with ‘Harry Potter’ and ‘Lord of the Rings’ after Secondary Listing
After its secondary listing in Hong Kong, Chinese gaming company NetEase is going to expand globally using prominent franchises like “Harry Potter” and the “Lord of the Rings”.
Ubisoft Launches Blockchain-Based Rabbids Collectibles to Raise Money for UNICEF
Ubisoft has launched blockchain-based Rabbids collectibles to raise funds that will allow to support the initiatives of UNICEF.
Fortnite Maker Epic Games Seeking to Sell Stake for $750 Million at $17 Billion Valuation
Epic Games, the studio behind “Fortnite,” is close to landing $750 million in new funding that would value the company at $17 billion. New investors T. Rowe Price Group and Baillie Gifford as well as existing investor KKR will join the round.
Gaming News
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With estimation pointing to a total market capitalization of 300 billion USD by 2025, the gaming industry is one that is rapidly growing and garnering the interest of several investors and tech stakeholders alike. With over three billion gamers across the globe, one can only expect the gaming and casino platforms to grow even bigger in the coming years.
Gaming is often categorized under the entertainment industry as many see both as a means of having fun. For example, Sony’s Playstation consoles offer a combination of video games, music, videos, internet, streaming, etc.
Since there are so many online games whose registration happens to be absolutely free, one would think that the gaming companies are not making much revenue off such games when users play. But that’s not the case, these firms have devised several means of making money through the purchase of in-play gems, coins, and other items.
Other than the predictable and great development of the gaming world, it is intriguing to take note of the fact that there has been a change in sources of income in the business recently. The casino and gaming business used to make the vast majority of its funds from online games, but has seen its income originate from an alternate means and point of view lately.
In the U.S., which boasts of being the biggest computer game market in the globe, the game industry was valued at about 18 billion dollars in 2017 and recorded over 2,450 firms of over 200,000 employees.
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