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Impairment

All articles tagged with #impairment

Sega's Rovio bet falters as Angry Birds loses lift in a tougher mobile market
business26 days ago

Sega's Rovio bet falters as Angry Birds loses lift in a tougher mobile market

Sega Sammy’s 2023 $776 million purchase of Rovio to leverage Angry Birds and Beacon tech has produced a $200 million impairment, with profitability falling short of forecasts. Analysts attribute slower mobile growth, higher user-acquisition costs, and the lingering effects of Apple’s ATT, arguing that merely owning a mature IP isn’t enough in today’s market. Rovio is set to rebuild and pursue a broader transmedia strategy with new IP, while Sega reassesses how to monetize the brand and integrate Rovio’s tech, emphasizing cross-media, platform partnerships, and expanding beyond Angry Birds.

via GamesIndustry.biz|
#acquisitions#angry-birds#business
Embracer to Spin Off Fellowship Entertainment as Standalone Unit Amid Earnings Slump
business1 month ago

Embracer to Spin Off Fellowship Entertainment as Standalone Unit Amid Earnings Slump

Embracer Group will spin off Fellowship Entertainment as a separately listed company while restructuring for efficiency after reporting a 24% fall in Q4 net sales and a SEK 7.2 billion non-cash impairment. Fellowship will focus on premium IP (Kingdom Come: Deliverance, Tomb Raider, The Lord of the Rings, Dead Island, Darksiders, Remnant) and target at least two major game releases annually from FY27/28, while the remaining Embracer entity pursues tighter costs and disciplined capital allocation. Müge Bouillon was named deputy CEO to strengthen governance, and Embracer will begin segment reporting in Q1 FY2026/27.

via GamesIndustry.biz|
#business#embracer-group#fellowship-entertainment
CSL trims FY26 revenue, flags $5B impairment tied to Vifor deal
business2 months ago

CSL trims FY26 revenue, flags $5B impairment tied to Vifor deal

CSL cut its FY26 revenue forecast to $15.2B from $15.8B and will book a $5B impairment tied to the underperforming Vifor acquisition, as late-stage R&D failures and market pressures weigh on growth; the update followed the departure of CEO Paul McKenzie, with interim CEO Gordon Naylor emphasizing execution, and the news sent shares down about 16% to a 2017 low (YTD drop ~41%).

via Fierce Pharma|
#business#csl#impairment
Sony writes off $765M Bungie impairment as Q4 operating income plunges 41.6%
business2 months ago

Sony writes off $765M Bungie impairment as Q4 operating income plunges 41.6%

Sony’s full-year Games & Network Services earnings rose 12% on software and network services, but Q4 operating income fell 41.6% after a ¥120.1 billion ($765 million) impairment tied to Bungie’s portfolio (Destiny 2, Marathon) underperformed; PS5 hardware sales declined while software and network services helped stabilize results, and Sony signaled potential price adjustments to support profitability.

via GamesIndustry.biz|
#bungie#business#gaming
Sony Writes Down Bungie Value by $765 Million Amid Marathon and Destiny 2 Slump
business2 months ago

Sony Writes Down Bungie Value by $765 Million Amid Marathon and Destiny 2 Slump

Sony disclosed a $765 million impairment charge against Bungie’s assets for FY2025/26, driven by the underperformance of Destiny 2 and Marathon. The hit includes about $200 million recognized in Q2 and $565 million in Q4, reducing Bungie’s accounted value, while Sony still posted a 12% operating income gain thanks to network services and favorable FX. Bungie was acquired for $3.6 billion in 2022, and the fate of Marathon remains uncertain as the developers vow to press on.

via Eurogamer.net|
#bungie#business#destiny-2
business2 months ago

Sony Writes Off $765 Million on Bungie as Marathon Falters

Sony disclosed a $765 million impairment tied to Bungie after Marathon’s launch, signaling a drop in Bungie’s value amid weak player counts and reception for the extraction shooter; the write‑down contributed to a year‑over‑year drop in operating income, even as PS5 shipments approach 100 million and the company cautions Bungie may not recoup the losses.

via Insider Gaming|
#bungie#business#earnings
Tiger Woods Arrested for DUI After Florida Crash on Jupiter Island
sports3 months ago

Tiger Woods Arrested for DUI After Florida Crash on Jupiter Island

Tiger Woods was arrested for DUI after a single-vehicle rollover crash on Jupiter Island, Florida. He was alone, reported no injuries, and authorities said he showed signs of impairment during roadside tests, though a breathalyzer registered 0.0. He was jailed at Martin County Jail and could be released on bond; officials cited possible impairment from medication or drugs. Woods has a history of injuries from a 2021 crash and rehab, and it remains unclear whether he will play in the upcoming Masters.

via CNBC|
#dui#florida#impairment
Sony's Investment in Bungie Falls Short as Destiny 2 Underperforms
business8 months ago

Sony's Investment in Bungie Falls Short as Destiny 2 Underperforms

Sony has expressed disappointment with Destiny 2's sales and user engagement, leading to a $204 million impairment on Bungie's intangible assets, reflecting the game's underperformance since Sony's acquisition of Bungie in 2022. Despite some successes, the company is under pressure to improve Bungie's performance and has taken a more hands-on approach, especially as Bungie faces challenges with upcoming projects like Marathon.

via Engadget|
#bungie#business#destiny-2
Porsche SE Faces $21 Billion Impairment on Volkswagen Stake
business1 year ago

Porsche SE Faces $21 Billion Impairment on Volkswagen Stake

Porsche SE, the primary shareholder of Volkswagen, announced it may write down the value of its stake in the carmaker by up to 20 billion euros due to high costs, competition, and union conflicts affecting Volkswagen. This potential impairment reflects the financial instability facing Volkswagen, which is also dealing with reduced dividends and cash flow issues. Porsche SE's financial outlook for 2024 is expected to be significantly negative, although it still plans to distribute a dividend for the year.

via Yahoo Finance|
#business#financial-crisis#impairment
"The Duration of a Cannabis High: Insights from Scientific Research"
health-and-science2 years ago

"The Duration of a Cannabis High: Insights from Scientific Research"

A meta-analysis of 80 papers published in 2021 revealed that depending on factors such as consumption method and potency, cannabis impairment can last between three and 10 hours. Regular users may build up tolerance, making impairment less predictable. The findings suggest that laws and advisory information should focus on the period when users are most at risk, rather than solely on the presence of THC in the body. More research is needed to better understand the effects of THC, which can guide legislation and safety measures.

via ScienceAlert|
#cannabis#health-and-science#impairment
British American Tobacco's Stock Plummets with $31.5 Billion Write-Down
business2 years ago

British American Tobacco's Stock Plummets with $31.5 Billion Write-Down

British American Tobacco's stock plummeted to its lowest point in over a decade after the company announced a potential $31.5 billion write-down related to its U.S. brands. The company's expansion in the U.S. through the acquisition of Reynolds in 2017 has been met with a significant decline in the American cigarette market.

via The Wall Street Journal|
#british-american-tobacco#business#impairment