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Business, Financial & Legal Posts - Page 1

Hi-Rez Studios announces creation of 3 distinct new studios

By: Jak Connor | More News: Business, Financial & Legal | Posted: Aug 15, 2018 8:00 am

SMITE developers Hi-Rez Studios have decided to create three brand new development teams to take care of each of the respective games, introducing Titan Forge Games, Heroic Leap Games and Evil Mojo Games.




Hi-Rez Studios has decided to split its development teams into three separate studios, each of the studios will control the development of each of Hi-Rez Studios' IP's. The first studio is called Titan Forge Games and will be taking control of the eSports success SMITE. The second is Evil Mojo Games and will be taking the helm of the 2018 hero shooter Paladins. The last is Heroic Leap Games and that team will operate Realm Royale, the new battle royale title on Steam.


Each of the first party studios will be overseen by Chris Larson who is now the general manager, his current goal is to establish each of the respective teams and make sure they "fulfil their maximum potential and stay hyper focused on serving their individual player communities," said Larson. According to the press release, Larson has said that "We view game operation as a marathon, not a sprint. Our games are built to provide near constant updates over many years. By giving each major game its own dedicated studio and identity, we empower them to control their own destiny and focus exclusively on their player communities, while still having access to our leading shared publishing services." For more information regarding Hi-Rez Studios, visit their official website here.

Nintendo smashes Sony in total hardware sales: 700 million+

By: Jak Connor | More News: Business, Financial & Legal | Posted: Aug 14, 2018 6:00 am

Last week we saw Sony announce a brand new limited edition PS4 console to celebrate shipping 500 million units across the entire PlayStation family. A monumental achievement for the Japanese games-maker but now lets look at what Nintendo can celebrate.




At the end of June this year Nintendo released their updated sales numbers for each of their products, according to the numbers when calculated together we get a total of 300.54 million units. This total is counting the following console unit sales in millions: NES - 61.91, SNES - 49.10, N64 - 32.93, GameCube - 21.74, Wii - 101.63, Wii U - 13.56, Switch - 19.67.


What is most interesting though is that Sony counted their handheld console sales (PSP/PS Vita) within the 500 million total, this means to be completely fair we would also have to count Nintendo's handheld sales. This is where Nintendo comes in really strong, Game Boy - 118.69, Game Boy Advance - 81.51, DS - 154.02 and 3DS - 72.89. When adding up all of those sales it brings us to a total of 427.11 million units, combining that with the above 300.54 million units we have a grand total of 727.65 million units. Clearly from these numbers Nintendo absolutely obliterates Sony when counting all hardware sales, I wonder if we will get a special 'Limited Edition' Nintendo Switch to celebrate?

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Apple is the first US company with $1 trillion market cap

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Aug 3, 2018 3:44 am

Apple has set yet another record: it has become the first US company with a market cap of over $1 trillion. The reason?




Unstoppable Q3 2018 earnings that passed both Apple's own internal estimates along with analysts' estimates. The forecast for Q4 2018 is looking strong, too. Apple breached the $1 trillion mark with shares valued at $207.05 that came back down shortly after meaning Apple isn't a permanent $1 trillion company, yet.


Apple is now the first US-based company that has a $1 trillion market cap, while Amazon is right behind them with their own Q3 2018 dominance.

AMD reaches a point of Zen, stock rises 20% in just 48 hours

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 29, 2018 12:31 am

AMD has posted better-than-expected Q2 2018 sales and earnings that have pushed AMD stock up 14% in 24 hours, and over 20% in 48 hours.




The company posted $1.76 billion in revenue for the three-month period, compared to $1.15 billion in the same quarter of 2017. AMD posted a net income of $116 million, which when compared to the $42 million loss of the same time last year, is a great result.


AMD Q2 2018 highlights:


  • Q2 net income of $116 million up from a loss of $42 million a year ago, a $158 million swing
  • Q2 revenue of $1.76 billion up from $1.15 billion a year ago, a 53% improvement
  • Gross corporate margins at 37%, up from 34% a year ago
  • 7nm EPYC and 7nm GPU now sampling to customers
  • Video card product sales continue to be strong despite weak crypto market


During an investor call on July 25, AMD CEO Lisa Su said: "We had an outstanding second quarter with strong revenue growth, margin expansion and our highest quarterly net income in seven years. Most importantly, we believe our long-term technology bets position us very well for the future. We are confident that with the continued execution of our product roadmaps, we are on an excellent trajectory to drive market share gains and profitable growth".

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Burglar breaks in, wakes couple up to use their Wi-Fi

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 27, 2018 5:20 am

On Sunday morning there was one Palo Alto couple that woke up to something I think most people can safely say has never happened to them; a burglar breaks into your house and gets asked to use your Wi-Fi network, while standing in your bedroom. Yeah, I didn't think so.




This happened to a 60-something couple in California with the man jumping out of bed and towards the burglar, pushing down down the hallway and outside of their front door. As soon as the masked intruder was out the door the man called the police, and the person seeking access to their Wi-Fi network was arrested and identified as a 17-year-old minor.


The young man was arrested for burglary which is a felony, and because he was prowling he's been hit with a misdemeanor and not only that, he provided police with false information. The police said that he lied about his identity when they first caught him, right after he got into the 60-something couples house by "cutting a screen covering an open window in the side yard".

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Facebook stock drops 20% wiping away a record $120 billion

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 27, 2018 4:50 am

The world thinks Facebook is invincible, with over 1 billion daily active users, billions of images and videos uploaded every month... it is ingrained in our very social fabric. Facebook is the largest social media company in the world, with Twitter the second-largest behind what Mark Zuckerberg created.




Well even with all of its control, power, and data it has on everyone the social networking giant saw its shares dip 19% in a single day which saw $120 billion eradicated from its market value, with Facebook now holding the record for the largest one-day drop in the history of the US stock market. Facebook shares dropped as much as 23% in after-hours trading, which is when Facebook reported its second quarter earnings.


Facebook saw slower daily active user growth that grew by only 22 million, which is pretty bad considering the last time Facebook saw these numbers was all the way back in 2011. More so, Facebook CFO said that revenue growth would "decline by single-digit percentages" for the rest of 2018. Doom and gloom for Facebook, it seems. But where have these problems come from?

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PayPal says woman who died of cancer breached their rules

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 11, 2018 1:30 am

In a story that is beyond sad, PayPal issued a letter to a woman who had died of cancer to tell her that her death was a breach of their rules, and that the company would look at legal action against her.




PayPal has since said that the letter was "insensitive", apologised to her husband, and is now working out how it was sent. Lindsay Durdle died on May 31 at just 37 years old, after an 18-month battle with breast cancer that had eventually spread to her lungs and brain.


After receiving the heartless letter, her husband contacted the BBC about the story. PayPal was informed of Lindsay's death three weeks ago now, sending the company copies of her death certificate, her will, and his ID. PayPal then sent him a letter in return that was headlined with "Important: You should read this notice carefully".

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Epic Games sues former Fortnite tester over breaking NDA

By: Jak Connor | More News: Business, Financial & Legal | Posted: Jun 27, 2018 8:00 am

Epic Games is taking legal action against one of their former Fortnite testers, after inside information regarding the title was leaked out onto a Subreddit forum.




Thomas Hannah, a former Fortnite tester has been accused of leaking information of the in-game Fortnite event for the fourth season. Hannah provided this information to an unnamed third party, it was then posted to a subreddit which has now been taken down. Epic Games filed the lawsuit against Hannah on May 7th, since then Hannah has also filled a defense asking for Epic Games' claims to be dismissed by the court. He says that the information that was shared was throughout a private conversation without knowledge of the other persons motives, here is what he had to say "[I was] pumped with a series of questions and guesses regarding where the meteor would hit."


Hannah has said that he is aware that he has broken the non disclosure agreement that was signed with Epic Games, and also that the information that was given was without consent from the company. Epic is demanding damages and legal fees under the state and federal trade secrets laws, as the company has said that Epic "has suffered and is continuing to suffer irreparable injury."

Foxconn will build US headquarters in Milwaukee

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jun 18, 2018 3:52 am

Foxconn is doubling down on its US plans with the company extending past its Wisconsin-based display factory plant, with news of a US-based headquarters in Milwaukee, just 30 miles away from its upcoming factory.




The company plans to buy a 77-storey building from Northwestern Mutual where up to 500 people wi-ll work there. Foxconn's new HQ will also feature an innovation hub that will work with startups to create apps for their new display tech.


Wisconsin has been at the center of some major tech movement lately, with the University of Wisconsin-Milwaukee starting up a new co-op program that sees engineering students flying over to Taiwan to study at the Chung Yuan Christian University.

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THQ Nordic earns most of 2017 sales in just 3 months of 2018

By: Jak Connor | More News: Business, Financial & Legal | Posted: May 17, 2018 6:00 am

THQ Nordic, the developers behind Biomutant, Darksiders and many more titles have released their 2018 quarterly earnings report. It appears that the company has almost made more sales in just the 3 months of 2018 than they did in the entire of 2017.




THQ Nordic recently decided to acquire Koch Media, the parent company of developer Deep Silver who made Saints Row and Dead Island. This acquisition has payed off quite well for THQ Nordic, as the company recently released its 2018 quarterly earnings and it appears that the company has $25.9 million USD in profits from revenues of $78.9 million.


This massive increase measures to a 439% increase in profits and a 673% increase more revenue when compared to the exact same quarter of last year. Back in 2017, from January through to December 31st THQ Nordic only made $31.3 million USD from $58.3 million in revenue. This means that THQ Nordic has almost made all of their 2017 earnings in just the first quarter of this year.

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