Episode 162: The Stark Contrast Between Positive Earnings and Gruesome Layoffs (News Show)

Nov 15, 2023

We’re in the thick of earnings season, and it’s hard to swallow positive financial news amid an avalanche of heartbreak labor stories. On this week’s show: Sony EA, Nintendo, Take-Two, Remedy, Sega, and Square Enix earnings.

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TIME STAMPS

• [00:02:35] - Sony Earnings for Q2 FY2023
• [00:08:50] - EA Earnings for Q2 FY2024
• [00:17:00] - Nintendo Earnings for Q2 FY2024
• [00:27:08] - Take-Two Earnings for Q2 FY2024
• [00:29:00] - Remedy Earnings for Q3 FY2023
• [00:31:02] - Sega Earnings for Q2 FY2024
• [00:34:32] - Square Enix Earnings for Q2 FY2024
• [00:39:25] - Remedy Update on Project Vanguard
• [00:42:57] - Investment Interlude
• [00:56:14] - Quick Hits
• [00:59:21] - Labor Report
• [01:14:05] - Listener Questions

SOURCES

• Q2 FY2023 Consolidated Financial Results | Sony
• Electronic Arts Reports Strong Q2 FY24 | EA
• Consolidated Results for the Six Months Ended September 30, 2023 | Nintendo
• IR Presentation for Fiscal Year Ending March 2024 | Nintendo
• Take-Two Q2 FY24 Earnings | Take-Two
• REMEDY ENTERTAINMENT PLC: Q3 2023 | Remedy
• Remedy Entertainment plans to reboot codename Vanguard to a premium game with a strong cooperative multiplayer component | Remedy
• Q2 for the Fiscal Year Ending March 2024 | Sega
• Results Briefing Session for the Six-Month Period Ended September 30, 2023 | Square Enix
• Sony’s Bungie Game Unit Cut 8% of Staff After ‘Destiny’ Play Wilted | Bloomberg (Paywall)
• Embracer's implosion continues as Star Trek Online developer Cryptic Studios lays off employees | PC Gamer
• Motorsport Games to lay off up to 38 employees | GamesIndustry
• 100 Thieves to cut 20% of its workforce | GamesIndustry
• The layoffs continue: Ubisoft cuts 124 jobs worldwide, including nearly 100 in Canada | PC Gamer
• Worker co-op dev The Glory Society has shut down | Game Developer
• Unity is probably going to do layoffs | The Verge
• Wayfinder, Warframe publisher Digital Extremes cuts workers, divests from Wayfinder | Polygon
• Samurai Punk is ceasing development | Twitter
• Samurai Punk staff | Twitter
• Amazon Lays Off 180 Employees In Its Games Division | Aftermath

INVESTMENT INTERLUDE

• Global Gaming Report Q3 2023 | Drake Star
• Atari enters into an agreement to acquire Digital Eclipse | Atari
• System Era Acquired by Devolver | System Era
• Midwest Games secures $3m in funding | GamesIndustry
• Neowiz invests in Blank Game Studios | GamesIndustry