Top
30°

Xbox 360 retreat hits game publishers' stocks

Shares of video game publishers THQ Inc., Take-Two Interactive Software Inc., Activision Inc. and Electronic Arts Inc. were down Friday, after Microsoft Corp. cut its Xbox 360 shipping target for its fiscal year ending June 30.

Microsoft executives said Thursday that due to unsold inventories in stores, they expect to ship a total of 12 million Xbox 360s by the end of the fiscal year in June, down from their previous target of 13 million to 15 million.

"Video game publishers will be under pressure today after Microsoft cut its life-to-date shipment. ... There is investor concern about a re-set of expectations around both the Xbox 360 and the Sony PlayStation 3," American Technology Research analyst Paul-Jon McNealy said in a client note.

Shares of video game publishers THQ Inc., Take-Two Interactive Software Inc., Activision Inc. and Electronic Arts Inc. were down Friday, after Microsoft Corp. cut its Xbox 360 shipping target for its fiscal year ending June 30.

Read Full Story >>
hollywoodreporter.com
The story is too old to be commented.
nice_cuppa3891d ago

is this the other dj with a new name ?

it would explain leaving ps3 out of the title when the article contains this...

"Video game publishers will be under pressure today after Microsoft cut its life-to-date shipment. ... There is investor concern about a re-set of expectations around both the Xbox 360 and the Sony PlayStation 3," American Technology Research analyst Paul-Jon McNealy said in a client note.

even pc is in there with this....

On Thursday, Activision said third-quarter revenue and earnings would beat Wall Street estimates, but those results for the fourth quarter ending in March would miss analysts' targets.

It cited the delay of PC title "Enemy Territory: Quake Wars" and expenses related to an ongoing internal review of its stock option practices dating back to 1992.

sad really.

UrbanJabroni3891d ago

You must be new around here. ;)

This site is an exercise in flagrant editorial bias on behalf of the posters...unashamed and unwilling to be fair, and thinking none of us ever actually read the article.

nice_cuppa3891d ago

Sony is scheduled to issue its financial report Tuesday and is expected to give details about PS3 results.

cant wait.

shotty3890d ago

The thing with sony is they never announce things like this, they keep hush hush and then their stock takes a hit when they release their financial statement. Like they said 2 million for launch right, then switched it to 1 million on launch day and then what it turned out to be slightly less than 500K units.

djtek1843891d ago

nice_cuppa my bad'trying to fix it now

CyberSentinel3891d ago (Edited 3891d ago )

Did you really want to waste all the millions of dollars invested into Xbox 1 and Xbox 360 just to be second place again? The opportunity to finish this QUICKLY, may not come again. Seize this opportunity, before its to late, and excel to the top of your game when you retire.

nice_cuppa3891d ago

360 is winning today.
thats what counts.
untill some one passes it...its still winning.