Electronic Arts reported that losses widened and revenues fell over the past three months. But the world’s second-largest videogame maker had a better than expected quarter thanks to some well-timed releases.
Even as overall spending on videogames is down, EA results were bolstered by strong sales of “The Sims 3″, the latest release in one of the industry’s best-selling franchises, and “EA Sports Active”, a new title for the Nintendo Wii. EA lost $234m in the three months through July, compared with $95m during the same time last year. Read more
In yet another sign that the appetite for shares in fast-growing technology companies has returned, Ancestry.com, a genealogy website that lets users trace their family origins, filed for a $75m initial public offering on Monday.
In its filing with the SEC, the company revealed that it has almost 1m paying customers, and took in $107m over the last six months, with profits of $8m. The company plans to list on either Nasdaq or the New York Stock Exchange as ACOM. Morgan Stanley and Bank of America Merrill Lynch are the two lead underwriters.
Ancestry.com will be the latest tech company to go public after a nearly yearlong drought. Read more
Monday brought mixed news on the ever-expanding cyber-security front.
The good news is that a small band of researchers got together and identified a major new suspected source for malevolence on the Web, Real Host Ltd., then convinced connection provider TeliaSonera to pull the plug. Read more
Celebrities, and professional athletes in particular, have emerged as among the most enthusiastic users of Twitter, the communications tool that has proved so useful for self-promotion.
Basketball big man Shaquille O’Neal broadcasts pithy tweets to his nearly 2m followers. Champion cyclist Lance Armstrong shares pictures from the Tour with an audience of more than 1.5m.
So to players from the National Football League, news that some teams are essentially banning Twitter from the locker room must come as an indignity. Read more