Square Enix’s recent financial report revealed that despite strong game sales, profits were lower than anticipated. This was attributed to factors like high development costs for Final Fantasy XVI and lower-than-expected sales of Final Fantasy VII Rebirth, leading to a decline in the HD Games segment’s profitability.
Despite achieving record revenues of £661.8 million, Manchester United reported losses of £113.2 million in its latest financial report. The club attributes the losses to increased spending on players, but assures compliance with financial rules. The club is undertaking restructuring efforts following a significant investment from Jim Ratcliffe.
Scandic Hotels conducted its annual general meeting on May 16, 2024, with shareholders, proxies, and third parties participating both physically and through advance postal voting. The meeting resulted in the approval of all proposals presented by the board of directors and nomination committee.
Ubisoft has announced the cancellation of Tom Clancy’s The Division Heartland, a free-to-play third-person shooter that was in development. Citing a reallocation of resources, the publisher has also relocated staff from Red Storm, the studio responsible for Heartland, to other projects. Ubisoft’s decision comes amid its latest financial report, which indicates a focus on open-world adventure games within established franchises and an expansion into games-as-a-service offerings like XDefiant.
Despite a slight improvement in its first-quarter financial report, Boeing continues to grapple with ongoing safety concerns and production issues, resulting in a pushback in its financial recovery and a $443 million compensation to airline customers. The company reported a core operating loss of $388 million, an improvement compared to the previous year’s loss, but revenue tumbled by 8% to $16.6 billion due to a sharp drop in jet deliveries. While Boeing is taking steps to address quality issues, anticipated fixes will cause additional losses and missed delivery targets, further impacting its financials. The incident involving an Alaska Airlines flight, where a door plug blew off, has sparked investigations and highlighted concerns about Boeing’s aircraft safety and quality, leading to compensation agreements with affected airlines. Shares of Boeing dropped 3% in afternoon trading following the earnings call, despite early gains. The company’s outlook remains uncertain, with Moody’s downgrading its credit rating and projecting headwinds for commercial airplanes persisting until at least 2026.
