Analysts recommend selling CD Projekt shares, lowering target price to 2017 levels
CD Projekt has been struggling to recover from Cyberpunk 2077’s botched launch. Analysts have once again lowered their recommendations on the company’s share price, taking into account the Polish developer’s latest actions.
Call of Duty testers at Raven form first union at major US game company despite Activision’s pressure
Members of Raven Software’s QA team have voted to unionize following pressure from Activision Blizzard and a wave of layoffs. This will be the first official union formed at a US-listed game company.
Report: Tencent employees facing mass layoffs as latest lockdowns affect Chinese tech giants’ earnings
Chinese tech companies have been conducting staff cuts, according to the latest reports. Tencent is one of the firms to lay off employees at several departments amid regulatory pressure and the impact of the latest lockdowns.
Embracer Group reports annual net sales of $1.7 billion, seeing great potential in IPs like Deus Ex and Thief
Embracer Group has released a financial report for the year ended March 31, 2022. The Swedish holding company recorded revenue growth, while also sharing its further M&A plans and saying that it now has over 200 titles in its pipeline.
Tencent reports no revenue growth, as gaming crackdown in China affects active player base
Tencent has released its financial report for the first quarter of 2022 (ended March 31). The Chinese tech giant recorded no revenue growth, citing a decrease in its domestic player base due to the latest game-related restrictions in the country.
Sony to join metaverse buzz by offering more live service games and adopting cross-platform strategy
Sony might be the next tech giant to offer its own approach to the metaverse. The company plans to evolve its gaming business and adopt a cross-platform strategy ahead of potential changes in the market.
Report: Wargaming plans to relocate up to 30% of its Belarusian staff, with others facing layoffs
A few Wargaming employees have shared new details about the ongoing liquidation of the company’s office in Minsk. The answers varied from talks about mass layoffs to Minsk-based devs being offered to keep working under another legal entity.
Ukrainian studio Frogwares receives MegaGrant from Epic Games
Frogwares, known for creating a series of Sherlock Holmes games, has received the Epic MegaGrant from Epic Games. The Ukrainian studio will use this money to relocate its employees to safer areas and help the ones who have already moved to other countries in the EU.