Game industry business news

Net income for the nine months ending December 31st 2008 reached YEN 17,826, a 17 per cent increase on the same period the year before. Operating income for the period hit YEN 34,703m, up from the YEN 27,610m seen in the same period the year before. Net revenue climbed from …

Ahead of what it hopes will be its defining year in the games industry, US media giant Warner has named gaming as the one bright spark in its otherwise dreadful financial report. Warner yesterday reported an operating loss of $16bn in 2008, massively down from the $8.9bn operating profit it …

International game design competition begins search for BAFTA finalists

In an interview with The Guardian , SCEE boss David Reeves has claimed that PlayStation has to suffer a little” in the battle with its next-gen competitors, conceding that the machine’s high price has caused problems but insisting that the priority remains staying profitable – a goal the European PlayStation …

THQ has named Paul Pucino as its new chief financial officer and executive vice president. Pucino takes up his new role after THQ posted poor financial results and will lead the publisher as it attempts to reduces its costs by $220 million. He replaces Colin Slade, who is indefinite medical …

Following THQ’s latest financial filing , Brian Farrell, the chairman, president and CEO of THQ, has stated that his firm is to both aggressively cut costs and place a stronger focus on product quality going forwards as his company enters what he describes as a challenging time” for the publisher. …

"The video game sector as a whole grew in 2008 and clearly we did not participate fully in that growth. Unquestionably this is challenging time for THQ. Saints Row 2 achieved a Metacritic rating of 82 and we marketed the game aggressively. The conclusion, when we focus make a great …

Japanese publisher and developer Capcom has revealed that net income for the nine months ending December 31st 2008 fell a massive 95 per cent to YEN 179m, down from the YEN 3.97bn in the same period the year before. Sales decreased by 8.6 per cent, reaching YEN 47,223m. Operating income …

THQ is to cut 600 jobs after posting a $191.8m loss for its Q3. Revenue fell 30 per cent to 357 million in the three months to December 31st. The company reported a profit of $15.5 million for the period in the previous year. The 600 job losses will come …

Special effects hardware firm amBX this week took a step closer to wider acceptance after signing up as a tools provider for the PlayStation 3. The agreement with Sony Computer Entertainment means that amBX – which recently spun out of Philips via VC funding – can develop its light, sound …