CFO Archives

AppWizard

May 9, 2025

Sumo Group’s founders are leaving the company

Sumo Group is undergoing a leadership transition as CEO Carl Cavers, COO Paul Porter, and Director of Excellence and Integration Darren Mills step down after 22 years. CFO Andy Stewart and newly-promoted COO Gary Dunn will share the chief executive responsibilities. Tim Repa-Davies has been promoted to the board. Cavers expressed pride in their achievements and confidence in Sumo's future, while Stewart highlighted the natural evolution of the company.

AppWizard

April 24, 2025

Technology behind private messaging app Telegram names Maximilian…

The TON Foundation will announce Maximilian Crown as its new CEO on Thursday. This appointment aims to stabilize Telegram, which has a user base of one billion, following the arrest of its founder Pavel Durov in Paris last year. Crown's leadership is seen as a significant step for Telegram, demonstrating its commitment to expanding its multi-functional app amid governmental pressures to access user data. Crown has experience as CFO and COO of MoonPay and has successfully secured operational approvals across various countries. Telegram has transformed into a “Super App,” integrating features such as gaming, shopping, and payment functionalities. The Telegram Open Network (TON) has 41 million active accounts and 121 million Toncoin holders. Toncoin's value is tied to Telegram's fortunes, experiencing fluctuations following Durov's arrest. Concerns have been raised regarding the impact of French authorities' actions on Telegram’s blockchain initiatives, especially related to digital privacy and government oversight. Durov was detained for 96 hours and criticized the scrutiny faced by Telegram, warning against legislative efforts that threaten individual freedoms.

AppWizard

March 26, 2025

Sales revenue dips at CD Projekt for 2024, but profitability has increased

CD Projekt recorded sales revenue of zł985 million for the 2024 financial year, a 17 percent decrease from the previous year. The revenue included zł588.8 million from Cyberpunk 2077 and its Phantom Liberty expansion. The company's net profit declined by 2.5 percent to zł469.9 million, while the net profit margin improved from 39.1 percent to 47.7 percent, largely due to CD Projekt Red's profit margin of 58.5 percent. GOG reported a profit margin of 0.6 percent. CFO Piotr Nielubowicz noted that Cyberpunk 2077 and its expansion generated nearly 600 million PLN in earnings, and The Witcher 3 continues to attract players. Joint CEO Michał Nowakowski announced plans for Cyberpunk 2077: Ultimate Edition on macOS and a new animation project set for release on Netflix in 2024.

Winsage

February 3, 2025

Windows 11 turns the tide against Windows 10

Windows 11's market share increased to 36.6 percent in January from 34.12 percent in December, while Windows 10's market share declined to 60.37 percent from 62.7 percent. Microsoft is approaching the end of support for Windows 10, scheduled for October 14, 2025, which has led to renewed interest in Windows 11. Microsoft CFO Amy Hood reported a 4 percent year-on-year revenue increase in the Windows OEM and Devices unit, attributed to preparations for the end of Windows 10 support. TrendForce projects a 4.9 percent increase in shipments in 2025 as businesses transition. CEO Satya Nadella noted that 15 percent of premium-priced laptops sold during the holiday season were Copilot+ PCs, and analysts predict that by 2026, acquiring a PC without AI silicon will be increasingly difficult. Initially, Windows 11's adoption was hindered by strict hardware requirements, but many users now have upgraded hardware that supports it. Microsoft is optimistic about solidifying Windows 11's market position as the transition from Windows 10 progresses.

AppWizard

December 19, 2024

Sony will shortly own 10% of Kadokawa

Sony will acquire a 10 percent stake in Kadokawa by purchasing 12,054,100 new shares at Y4,146 each for a total investment of Y49.98 billion (approximately 7 million) on January 7, 2025. This will increase Sony's ownership in Kadokawa from 2.01 percent to 9.68 percent, making it Kadokawa's largest shareholder, although still behind Korea Securities Depository - Samsung and The Master Trust Bank of Japan in terms of major shareholders. The partnership aims to enhance collaboration on adapting Kadokawa's intellectual property into live-action films, television shows, and anime projects.

AppWizard

November 27, 2024

Cyberpunk 2077 hits 30m sales

Cyberpunk 2077 has surpassed 30 million copies sold, as revealed by CD Projekt's CFO, Piotr Nielubowicz. The Phantom Liberty expansion has sold over eight million units. The original game and its expansion will soon be available on Mac devices powered by Apple Silicon chips. Additionally, a new animation project set in the Cyberpunk universe is in development for Netflix.

AppWizard

November 11, 2024

Sony’s president says forcing PC gamers onto the PlayStation Network is about keeping them safe

Sony has mandated that players must sign into the PlayStation Network (PSN) even for single-player titles such as God of War Ragnarök and Horizon Zero Dawn Remastered, which has raised concerns about accessibility, particularly in regions where PSN is not available. This requirement has led to significant criticism as it limits access to PlayStation games for some gamers. In an investor call, Sony's president, Hiroki Totoki, stated that the intention behind this move is to enhance player safety, acknowledging that it could "invite pushback." The PSN sign-in requirement has resulted in the delisting of certain titles, such as Ghost of Tsushima, in nearly 200 countries. Some industry analysts suggest this requirement may be a strategic move for Sony to inflate its monthly active user metrics.

AppWizard

November 8, 2024

Sony boss admits forcing PC gamers into PlayStation accounts can “invite pushback,” but insists they have to keep games safe – which doesn’t really track in single-player

Sony's president, Hiroki Totoki, discussed the company's strategy to promote PlayStation Network account linking among PC gamers during a financial call, acknowledging potential pushback. The requirement for account linking has faced criticism, particularly after the backlash from the Helldivers 2 community and the mandatory linking for the Horizon Zero Dawn remaster on PC. This approach raises concerns about user experience, especially for single-player titles, as many PC gamers prefer a straightforward gaming experience without additional hurdles. Sony's strategy appears aimed at increasing PlayStation Network user numbers, but it contrasts with the smoother integration offered by Xbox games. Despite the rationale for account management in multiplayer games, the necessity for single-player titles remains contentious, and Sony is likely to continue facing resistance from the PC gaming community. The company has recognized the need for improved user testing and evaluation based on past challenges.

AppWizard

November 8, 2024

Unity hires Jarrod Yahes as its new CFO

Jarrod Yahes has been appointed as the new chief financial officer and senior vice president of Unity, succeeding Luis Visoso, who left the company in August. Yahes previously worked at Shutterstock and Zeta Global. Unity's CEO, Matt Bromberg, expressed enthusiasm about Yahes' appointment, highlighting his operational rigor and growth orientation. Yahes expressed excitement about joining Unity and supporting its mission in the gaming and interactive experiences ecosystem.

AppWizard

October 30, 2024

EA hits $2.03bn net revenue for Q2

Electronic Arts (EA) reported a net revenue of .025 billion for the quarter ending September 30th, a year-on-year increase of 5.8 percent. Of this total, 35 percent came from full game sales and 65 percent from live services and other revenue streams. The Sims franchise contributed significantly, gaining 15 million new users and exceeding net bookings expectations. EA's net bookings for the quarter reached .079 billion, a 14 percent increase from the previous year. CEO Andrew Wilson noted the strong quarter and record Q2 net bookings, while CFO Stuart Canfield indicated that the company is raising its FY25 outlook due to exceeding guidance.