Finalists for the 9 Annual Interactive Achievement
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Take-Two Interactive Software, Inc. Equity Analyst Report
Merrimack College Merrimack ScholarWorks Honors Senior Capstone Projects Honors Program Spring 2016 Take-Two Interactive Software, Inc. Equity Analyst Report Brian Nelson Goncalves Merrimack College, [email protected] Follow this and additional works at: https://scholarworks.merrimack.edu/honors_capstones Part of the Finance and Financial Management Commons Recommended Citation Goncalves, Brian Nelson, "Take-Two Interactive Software, Inc. Equity Analyst Report" (2016). Honors Senior Capstone Projects. 7. https://scholarworks.merrimack.edu/honors_capstones/7 This Capstone - Open Access is brought to you for free and open access by the Honors Program at Merrimack ScholarWorks. It has been accepted for inclusion in Honors Senior Capstone Projects by an authorized administrator of Merrimack ScholarWorks. For more information, please contact [email protected]. Running Head: TAKE-TWO INTERACTIVE SOFTWARE, INC. EQUITY ANALYST REPORT 1 Take-Two Interactive Software, Inc. Equity Analyst Report Brian Nelson Goncalves Merrimack College Honors Department May 5, 2016 Author Notes Brian Nelson Goncalves, Finance Department and Honors Program, at Merrimack Collegei. Brian Nelson Goncalves is a Senior Honors student at Merrimack College. This report was created with the intent to educate investors while also serving as the students Senior Honors Capstone. Full disclosure, Brian is a long time share holder of Take-Two Interactive Software, Inc. 1 Running Head: TAKE-TWO INTERACTIVE SOFTWARE, INC. EQUITY ANALYST REPORT 2 Table of Contents -
Activision Blizzard, Inc
Investment Club Presentation Activision Blizzard, Inc. (ATVI) Analyst: Niko Martinovic 5-Yr Stock Performance $90 $80 $70 $60 $50 $40 $30 Decline in stock primarily driven by analyst sentiment changes, missing expectations, CFO firings, $20 and most recently, Bungie games leaving ATVI $10 $0 1/15/20144/15/20147/15/201410/15/20141/15/20154/15/20157/15/201510/15/20151/15/20164/15/20167/15/201610/15/20161/15/20174/15/20177/15/201710/15/20171/15/20184/15/20187/15/201810/15/2018 Source: AIM/Martinovic 2018, Company Filings, S&P Capital IQ, and IBIS World 2 They’re Wrong Activision Blizzard has three meaningful and diverse revenue streams that can all grow in unique ways. E-Sports and Virtual Reality are the most exciting growth opportunities in this industry and ATVI is the best positioned to take advantage of it with the power of their brands, aggressive R&D spend, and patience. Source: 3 Note: Three Year Stock Performance ATVI has outperformed the S&P consistently since early 2017 while the Peer Set1 has reverted back. 160.00% 140.00% Stock Price $46.85 Shares Outstanding $762.41mm 120.00% Market Cap $36.08bn 52 Week Range $43.71-$84.68 100.00% Avg. Volume 7,550,000 EPS (TTM) $2.13 80.00% Past Month Performance -1.60% Past 1 Year -33.63% 60.00% Past 5 Year 170.36% 40.00% 20.00% 0.00% -20.00% -40.00% 1/15/2016 4/15/2016 7/15/2016 10/15/2016 1/15/2017 4/15/2017 7/15/2017 10/15/2017 1/15/2018 4/15/2018 7/15/2018 10/15/2018 S&P ATVI Peer Set Source: AIM/Martinovic 2018, Company Filings, S&P Capital IQ, and IBIS World 4 1Electronic Arts, Ubisoft, Take Two Interactive, Square Enix, and Zynga Company Overview & Monetization Activision Blizzard, Inc. -
'Call of Duty: Modern Warfare' to Support Directx Raytracing on PC
‘Call of Duty: Modern Warfare’ to Support DirectX Raytracing on PC, Powered by NVIDIA GeForce RTX One of the Most Anticipated Games of the Year to Leverage NVIDIA RTX Technology on PC NVIDIA and Activision today announced that NVIDIA is the official PC partner for Call of Duty®: Modern Warfare®, the highly anticipated, all-new title scheduled for release on Oct. 25. NVIDIA is working side by side with developer Infinity Ward to bring real-time DirectX Raytracing (DXR), and NVIDIA® Adaptive Shading gaming technologies to the PC version of the new Modern Warfare. “Call of Duty: Modern Warfare is poised to reset the bar upon release this October,'' said Matt Wuebbling, head of GeForce marketing at NVIDIA. “NVIDIA is proud to partner closely with this epic development and contribute toward the creation of this gripping experience. Our teams of engineers have been working closely with Infinity Ward to use NVIDIA RTX technologies to display the realistic effects and incredible immersion that Modern Warfare offers.'' The most celebrated series in Call of Duty will make its return in a powerful experience reimagined from the ground up. Published by Activision and developed by Infinity Ward, the PC version of Call of Duty: Modern Warfare will release on Blizzard Battle.net. Modern Warfare features a unified narrative experience and progression across an epic, heart-racing, single-player story, an action-packed multiplayer playground, and new cooperative gameplay. “Our work with NVIDIA GPUs has helped us throughout the PC development of Modern Warfare,'' said Dave Stohl, co-studio head at Infinity Ward. “We've seamlessly integrated the RTX features like ray tracing and adaptive shading into our rendering pipeline. -
Cloud-Based Visual Discovery in Astronomy: Big Data Exploration Using Game Engines and VR on EOSC
Novel EOSC services for Emerging Atmosphere, Underwater and Space Challenges 2020 October Cloud-Based Visual Discovery in Astronomy: Big Data Exploration using Game Engines and VR on EOSC Game engines are continuously evolving toolkits that assist in communicating with underlying frameworks and APIs for rendering, audio and interfacing. A game engine core functionality is its collection of libraries and user interface used to assist a developer in creating an artifact that can render and play sounds seamlessly, while handling collisions, updating physics, and processing AI and player inputs in a live and continuous looping mechanism. Game engines support scripting functionality through, e.g. C# in Unity [1] and Blueprints in Unreal, making them accessible to wide audiences of non-specialists. Some game companies modify engines for a game until they become bespoke, e.g. the creation of star citizen [3] which was being created using Amazon’s Lumebryard [4] until the game engine was modified enough for them to claim it as the bespoke “Star Engine”. On the opposite side of the spectrum, a game engine such as Frostbite [5] which specialised in dynamic destruction, bipedal first person animation and online multiplayer, was refactored into a versatile engine used for many different types of games [6]. Currently, there are over 100 game engines (see examples in Figure 1a). Game engines can be classified in a variety of ways, e.g. [7] outlines criteria based on requirements for knowledge of programming, reliance on popular web technologies, accessibility in terms of open source software and user customisation and deployment in professional settings. -
Nintendo Co., Ltd
Nintendo Co., Ltd. Financial Results Briefing for Fiscal Year Ended March 2013 (Briefing Date: 4/25/2013) Supplementary Information [Note] Forecasts announced by Nintendo Co., Ltd. herein are prepared based on management's assumptions with information available at this time and therefore involve known and unknown risks and uncertainties. Please note such risks and uncertainties may cause the actual results to be materially different from the forecasts (earnings forecast, dividend forecast and other forecasts). Nintendo Co., Ltd. Consolidated Statements of Income Transition million yen FY3/2009 FY3/2010 FY3/2011 FY3/2012 FY3/2013 Net sales 1,838,622 1,434,365 1,014,345 647,652 635,422 Cost of sales 1,044,981 859,131 626,379 493,997 495,068 Gross profit 793,641 575,234 387,965 153,654 140,354 (Gross profit ratio) (43.2%) (40.1%) (38.2%) (23.7%) (22.1%) Selling, general and administrative expenses 238,378 218,666 216,889 190,975 176,764 Operating income 555,263 356,567 171,076 -37,320 -36,410 (Operating income ratio) (30.2%) (24.9%) (16.9%) (-5.8%) (-5.7%) Non-operating income 32,159 11,082 8,602 9,825 48,485 (of which foreign exchange gains) ( - ) ( - ) ( - ) ( - ) (39,506) Non-operating expenses 138,727 3,325 51,577 33,368 1,592 (of which foreign exchange losses) (133,908) (204) (49,429) (27,768) ( - ) Ordinary income 448,695 364,324 128,101 -60,863 10,482 (Ordinary income ratio) (24.4%) (25.4%) (12.6%) (-9.4%) (1.6%) Extraordinary income 339 5,399 186 84 2,957 Extraordinary loss 902 2,282 353 98 3,243 Income before income taxes and minority interests 448,132 367,442 127,934 -60,877 10,197 Income taxes 169,134 138,896 50,262 -17,659 3,029 Income before minority interests - - 77,671 -43,217 7,168 Minority interests in income -91 -89 50 -13 68 Net income 279,089 228,635 77,621 -43,204 7,099 (Net income ratio) (15.2%) (15.9%) (7.7%) (-6.7%) (1.1%) - 1 - Nintendo Co., Ltd. -
UPC Platform Publisher Title Price Available 730865001347
UPC Platform Publisher Title Price Available 730865001347 PlayStation 3 Atlus 3D Dot Game Heroes PS3 $16.00 52 722674110402 PlayStation 3 Namco Bandai Ace Combat: Assault Horizon PS3 $21.00 2 Other 853490002678 PlayStation 3 Air Conflicts: Secret Wars PS3 $14.00 37 Publishers 014633098587 PlayStation 3 Electronic Arts Alice: Madness Returns PS3 $16.50 60 Aliens Colonial Marines 010086690682 PlayStation 3 Sega $47.50 100+ (Portuguese) PS3 Aliens Colonial Marines (Spanish) 010086690675 PlayStation 3 Sega $47.50 100+ PS3 Aliens Colonial Marines Collector's 010086690637 PlayStation 3 Sega $76.00 9 Edition PS3 010086690170 PlayStation 3 Sega Aliens Colonial Marines PS3 $50.00 92 010086690194 PlayStation 3 Sega Alpha Protocol PS3 $14.00 14 047875843479 PlayStation 3 Activision Amazing Spider-Man PS3 $39.00 100+ 010086690545 PlayStation 3 Sega Anarchy Reigns PS3 $24.00 100+ 722674110525 PlayStation 3 Namco Bandai Armored Core V PS3 $23.00 100+ 014633157147 PlayStation 3 Electronic Arts Army of Two: The 40th Day PS3 $16.00 61 008888345343 PlayStation 3 Ubisoft Assassin's Creed II PS3 $15.00 100+ Assassin's Creed III Limited Edition 008888397717 PlayStation 3 Ubisoft $116.00 4 PS3 008888347231 PlayStation 3 Ubisoft Assassin's Creed III PS3 $47.50 100+ 008888343394 PlayStation 3 Ubisoft Assassin's Creed PS3 $14.00 100+ 008888346258 PlayStation 3 Ubisoft Assassin's Creed: Brotherhood PS3 $16.00 100+ 008888356844 PlayStation 3 Ubisoft Assassin's Creed: Revelations PS3 $22.50 100+ 013388340446 PlayStation 3 Capcom Asura's Wrath PS3 $16.00 55 008888345435 -
Nintendo Co., Ltd
Nintendo Co., Ltd. Financial Results Briefing for the Nine-Month Period Ended December 2013 (Briefing Date: 1/30/2014) Supplementary Information [Note] Forecasts announced by Nintendo Co., Ltd. herein are prepared based on management's assumptions with information available at this time and therefore involve known and unknown risks and uncertainties. Please note such risks and uncertainties may cause the actual results to be materially different from the forecasts (earnings forecast, dividend forecast and other forecasts). Nintendo Co., Ltd. Consolidated Statements of Income Transition million yen FY3/2010 FY3/2011 FY3/2012 FY3/2013 FY3/2014 Apr.-Dec.'09 Apr.-Dec.'10 Apr.-Dec.'11 Apr.-Dec.'12 Apr.-Dec.'13 Net sales 1,182,177 807,990 556,166 543,033 499,120 Cost of sales 715,575 487,575 425,064 415,781 349,825 Gross profit 466,602 320,415 131,101 127,251 149,294 (Gross profit ratio) (39.5%) (39.7%) (23.6%) (23.4%) (29.9%) Selling, general and administrative expenses 169,945 161,619 147,509 133,108 150,873 Operating income 296,656 158,795 -16,408 -5,857 -1,578 (Operating income ratio) (25.1%) (19.7%) (-3.0%) (-1.1%) (-0.3%) Non-operating income 19,918 7,327 7,369 29,602 57,570 (of which foreign exchange gains) (9,996) ( - ) ( - ) (22,225) (48,122) Non-operating expenses 2,064 85,635 56,988 989 425 (of which foreign exchange losses) ( - ) (84,403) (53,725) ( - ) ( - ) Ordinary income 314,511 80,488 -66,027 22,756 55,566 (Ordinary income ratio) (26.6%) (10.0%) (-11.9%) (4.2%) (11.1%) Extraordinary income 4,310 115 49 - 1,422 Extraordinary loss 2,284 33 72 402 53 Income before income taxes and minority interests 316,537 80,569 -66,051 22,354 56,936 Income taxes 124,063 31,019 -17,674 7,743 46,743 Income before minority interests - 49,550 -48,376 14,610 10,192 Minority interests in income -127 -7 -25 64 -3 Net income 192,601 49,557 -48,351 14,545 10,195 (Net income ratio) (16.3%) (6.1%) (-8.7%) (2.7%) (2.0%) - 1 - Nintendo Co., Ltd. -
Analyzing Space Dimensions in Video Games
SBC { Proceedings of SBGames 2019 | ISSN: 2179-2259 Art & Design Track { Full Papers Analyzing Space Dimensions in Video Games Leandro Ouriques Geraldo Xexéo Eduardo Mangeli Programa de Engenharia de Sistemas e Programa de Engenharia de Sistemas e Programa de Engenharia de Sistemas e Computação, COPPE/UFRJ Computação, COPPE/UFRJ Computação, COPPE/UFRJ Center for Naval Systems Analyses Departamento de Ciência da Rio de Janeiro, Brazil (CASNAV), Brazilian Nay Computação, IM/UFRJ E-mail: [email protected] Rio de Janeiro, Brazil Rio de Janeiro, Brazil E-mail: [email protected] E-mail: [email protected] Abstract—The objective of this work is to analyze the role of types of game space without any visualization other than space in video games, in order to understand how game textual. However, in 2018, Matsuoka et al. presented a space affects the player in achieving game goals. Game paper on SBGames that analyzes the meaning of the game spaces have evolved from a single two-dimensional screen to space for the player, explaining how space commonly has huge, detailed and complex three-dimensional environments. significance in video games, being bound to the fictional Those changes transformed the player’s experience and have world and, consequently, to its rules and narrative [5]. This encouraged the exploration and manipulation of the space. led us to search for a better understanding of what is game Our studies review the functions that space plays, describe space. the possibilities that it offers to the player and explore its characteristics. We also analyze location-based games where This paper is divided in seven parts. -
Electronic Arts Reports Q4 and FY21 Financial Results
Electronic Arts Reports Q4 and FY21 Financial Results Results Above Expectations, Record Annual Operating Cash Flow Driven by Successful New Games, Live Services Engagement, and Network Growth REDWOOD CITY, CA – May 11, 2021 – Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its fiscal fourth quarter and full year ended March 31, 2021. “Our teams have done incredible work over the last year to deliver amazing experiences during a very challenging time for everyone around the world,” said Andrew Wilson, CEO of Electronic Arts. “With tremendous engagement across our portfolio, we delivered a record year for Electronic Arts. We’re now accelerating in FY22, powered by expansion of our blockbuster franchises to more platforms and geographies, a deep pipeline of new content, and recent acquisitions that will be catalysts for further growth.” “EA delivered a strong quarter, driven by live services and Apex Legends’ extraordinary performance. Apex steadily grew through the last year, driven by the games team and the content they are delivering,” said COO and CFO Blake Jorgensen. “Looking forward, the momentum in our existing live services provides a solid foundation for FY22. Combined with a new Battlefield and our recent acquisitions, we expect net bookings growth in the high teens.” Selected Operating Highlights and Metrics • Net bookings1 for fiscal 2021 was $6.190 billion, up 15% year-over-year, and over $600 million above original expectations. • Delivered 13 new games and had more than 42 million new players join our network during the fiscal year. • FIFA 21, life to date, has more than 25 million console/PC players. -
Activision Acquires U.K. Game Developer Bizarre Creations
Activision Acquires U.K. Game Developer Bizarre Creations Activision Enters $1.4 Billion Racing Genre Market, Representing More than 10% of Worldwide Video Game Market SANTA MONICA, Calif., Sep 26, 2007 (BUSINESS WIRE) -- Activision, Inc. (Nasdaq:ATVI) today announced that it has acquired U.K.-based video game developer Bizarre Creations, one of the world's premier video game developers and a leader in the racing category, a $1.4 billion market that is the fourth most popular video game genre and represents more than 10% of the total video game market worldwide. This acquisition represents the latest step in Activision's ongoing strategy to enter new genres. Last year, Activision entered the music rhythm genre through its acquisition of RedOctane's Guitar Hero franchise, which is one of the fastest growing franchises in the video game industry. With more than 10 years' experience in the racing genre, Bizarre Creations is the developer of the innovative multi-million unit franchise Project Gotham Racing, a critically-acclaimed series for the Xbox® and Xbox 360®. The Project Gotham Racing franchise, which is owned by Microsoft, currently has an average game rating of 89%, according to GameRankings.com and has sold more than 4.5 million units in North America and Europe, according to The NPD Group, Charttrack and Gfk. Bizarre Creations is currently finishing development on the highly-anticipated third-person action game, The Club, for SEGA, which is due to be released early 2008. They are also the creators of the top-selling arcade game series Geometry Wars on Xbox Live Arcade®. -
Inside the Video Game Industry
Inside the Video Game Industry GameDevelopersTalkAbout theBusinessofPlay Judd Ethan Ruggill, Ken S. McAllister, Randy Nichols, and Ryan Kaufman Downloaded by [Pennsylvania State University] at 11:09 14 September 2017 First published by Routledge Th ird Avenue, New York, NY and by Routledge Park Square, Milton Park, Abingdon, Oxon OX RN Routledge is an imprint of the Taylor & Francis Group, an Informa business © Taylor & Francis Th e right of Judd Ethan Ruggill, Ken S. McAllister, Randy Nichols, and Ryan Kaufman to be identifi ed as authors of this work has been asserted by them in accordance with sections and of the Copyright, Designs and Patents Act . All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers. Trademark notice : Product or corporate names may be trademarks or registered trademarks, and are used only for identifi cation and explanation without intent to infringe. Library of Congress Cataloging in Publication Data Names: Ruggill, Judd Ethan, editor. | McAllister, Ken S., – editor. | Nichols, Randall K., editor. | Kaufman, Ryan, editor. Title: Inside the video game industry : game developers talk about the business of play / edited by Judd Ethan Ruggill, Ken S. McAllister, Randy Nichols, and Ryan Kaufman. Description: New York : Routledge is an imprint of the Taylor & Francis Group, an Informa Business, [] | Includes index. Identifi ers: LCCN | ISBN (hardback) | ISBN (pbk.) | ISBN (ebk) Subjects: LCSH: Video games industry. -
Disruptive Innovation and Internationalization Strategies: the Case of the Videogame Industry Par Shoma Patnaik
HEC MONTRÉAL Disruptive Innovation and Internationalization Strategies: The Case of the Videogame Industry par Shoma Patnaik Sciences de la gestion (Option International Business) Mémoire présenté en vue de l’obtention du grade de maîtrise ès sciences en gestion (M. Sc.) Décembre 2017 © Shoma Patnaik, 2017 Résumé Ce mémoire a pour objectif une analyse des deux tendances très pertinentes dans le milieu du commerce d'aujourd'hui – l'innovation de rupture et l'internationalisation. L'innovation de rupture (en anglais, « disruptive innovation ») est particulièrement devenue un mot à la mode. Cependant, cela n'est pas assez étudié dans la recherche académique, surtout dans le contexte des affaires internationales. De plus, la théorie de l'innovation de rupture est fréquemment incomprise et mal-appliquée. Ce mémoire vise donc à combler ces lacunes, non seulement en examinant en détail la théorie de l'innovation de rupture, ses antécédents théoriques et ses liens avec l'internationalisation, mais en outre, en situant l'étude dans l'industrie des jeux vidéo, il découvre de nouvelles tendances industrielles et pratiques en examinant le mouvement ascendant des jeux mobiles et jeux en lignes. Le mémoire commence par un dessein des liens entre l'innovation de rupture et l'internationalisation, sur le fondement que la recherche de nouveaux débouchés est un élément critique dans la théorie de l'innovation de rupture. En formulant des propositions tirées de la littérature académique, je postule que les entreprises « disruptives » auront une vitesse d'internationalisation plus élevée que celle des entreprises traditionnelles. De plus, elles auront plus de facilité à franchir l'obstacle de la distance entre des marchés et pénétreront dans des domaines inconnus et inexploités.