CFO Archives

AppWizard

November 11, 2025

Destiny 2 has “not reached expectations” since Sony acquisition, posting loss of $204 million

Sony acquired Bungie for approximately .6 billion in 2022, with about one-third of the investment aimed at retaining Bungie's workforce. Bungie has been operating independently since the acquisition. Sony's CFO Lin Tao announced a ¥31.5 billion impairment loss related to Bungie's intangible assets, reflecting a reassessment of Bungie's value due to underperformance in titles like Destiny 2 and Marathon. Despite this, Sony's overall sales and operating income increased by nearly ¥42 billion compared to the previous year. Tao noted that player engagement and sales for Destiny 2 have not met expectations since the acquisition. She reassured stakeholders that the goodwill associated with Bungie remains intact due to the strength of other titles in Sony's portfolio. Tao acknowledged potential risks for Bungie's upcoming releases and the ongoing performance of Destiny 2, stating that failure to meet expectations could lead to further impairment losses, but does not currently foresee these challenges affecting Sony's overall gaming segment health.

AppWizard

October 17, 2025

BD CFO Chris DelOrefice leaving for new job

Chief Financial Officer Chris DelOrefice will leave BD on December 5 to become CFO at Ulta Beauty. He announced his resignation on October 9, and the company is seeking a permanent successor. Vitor Roque will serve as interim CFO following DelOrefice's departure. BD's preliminary fourth-quarter revenue is approximately .9 billion, an 8.3% increase year over year, while fiscal year 2025 revenue is about .8 billion, marking an 8.2% rise. Analysts described the fourth-quarter results as disappointing, citing a significant impact from the macro environment. BD plans to separate its biosciences and diagnostics business and will discuss earnings on November 6.

AppWizard

October 7, 2025

Bungie shows Marathon proof of life with the announcement of another closed playtest

Bungie has announced a closed playtest for Marathon, scheduled from October 22 to October 28. Players can apply for an invite on Bungie.net now, with access requests through Steam opening on October 13 at 10 am Pacific Time. Participants must agree to a nondisclosure agreement. The playtest will focus on improvements made since the alpha, including three maps, five runner shells, prox chat, re-tuned combat pacing, solo queue, and deeper environmental storytelling. The Technical Test build is still a work in progress and will only showcase a portion of the final game. Following mixed feedback from a previous playtest, Bungie has faced challenges, including a delay in Marathon's launch and criticism regarding Destiny 2.

AppWizard

September 8, 2025

It’s official – “another wave” of Intel Core Ultra Arrow Lake CPUs is coming

Intel's CFO, David Zinsner, confirmed the upcoming release of additional Arrow Lake CPUs, which will bridge the gap between the existing Core Ultra 200-series and the future Nova Lake processors. The Arrow Lake CPUs have shown improvements in thermal management and power efficiency but have struggled against AMD's latest gaming CPUs. The new Arrow Lake refresh may feature higher clock speeds and enhanced AI performance for the Neural Processing Unit (NPU). The manufacturing of Arrow Lake CPUs is being handled by TSMC, while the upcoming Panther Lake and Nova Lake CPUs will utilize Intel's in-house 18A manufacturing process. The new Arrow Lake CPUs will provide an upgrade option for users of LGA1851 motherboards.

AppWizard

August 8, 2025

Sony’s live-service transition “not entirely going smoothly”

Sony Interactive Entertainment's CEO and CFO, Lin Tao, discussed challenges in the company's live-service gaming strategy, acknowledging difficulties in transitioning to a service-oriented portfolio. This includes the cancellation of the game Concord shortly after its release and the postponement of Bungie's title, Marathon, along with several other shelved projects. Tao noted that live-service games were almost non-existent for PlayStation Studios five years ago, but now contribute significantly to sales and profit through titles like Helldivers 2, MLB, Gran Turismo 7, and Destiny 2. The live-service ratio for Q1 was approximately 40 percent, with projections for the full year estimating between 20 to 30 percent. He recognized ongoing issues that need addressing to improve the introduction of live service content. Regarding Marathon, Tao mentioned it was delayed from its original September release due to an unsatisfactory alpha test, with an optimistic aim for completion by March 2026, though no official launch date has been set. He also discussed Bungie's integration into PlayStation Studios, indicating a shift from its initial independent operation towards becoming more integrated into the studio's structure.

AppWizard

August 8, 2025

Warner Bros. Discovery Adds 3.4 Million Streaming Subscribers, But “Minecraft” and “Sinners” Power Q2

Warner Bros. Discovery reported second-quarter earnings with a revenue of .8 billion, a slight increase from the previous year. Net income rose to .6 billion, a recovery from last year's loss, while adjusted EBITDA increased by 9% to billion. The studio segment generated .8 billion in revenue, a 55% year-over-year increase, driven by successful films like Minecraft and Sinners. The company plans to release 12 to 14 new films annually, including major tentpole films and titles from DC Studios and New Line. Streaming growth included the addition of 3.4 million subscribers, leading to an 8% revenue increase to .8 billion. The linear TV segment faced challenges, with revenue down 9% to .8 billion and adjusted EBITDA declining by 24% to .5 billion. WBD completed six major carriage renewals and is preparing for a strategic split, creating a new entity for its studios and HBO, while linear networks will become a separate company named Discovery. CEO David Zaslav emphasized limiting library content licensing to enhance HBO Max's appeal and highlighted ongoing efforts to revive franchises like Superman and Lord of the Rings. The company is also expanding into gaming and theme parks, with Bruce Campbell leading these initiatives. Zaslav discussed plans for bundling streaming services to improve consumer experience and noted the resilience of the TV advertising market despite economic pressures.

AppWizard

July 31, 2025

EA reports marginal gains in revenue and bookings for Q1

Electronic Arts reported revenues of .671 billion for the first quarter of the fiscal year, a 0.66 percent increase compared to the same quarter last year. Net bookings rose by 2.85 percent, reaching .298 billion. The company's success was attributed to strong performances from titles like Apex Legends and the EA Sports brand, as well as the upcoming F1 2025. CEO Andrew Wilson noted the company's commitment to enhancing player engagement and expanding global communities, while CFO Stuart Canfield highlighted the resilience of their live services and reaffirmed their full-year guidance.

Winsage

July 4, 2025

Microsoft’s enshittification of Xbox, Surface, and even Windows itself, are by design — with greed and corner-cutting replacing innovation

Microsoft announced 9,000 layoffs, bringing the total for the year to over 15,300, including cuts within Xbox. The layoffs are attributed to unrealistic fiscal expectations set by CFO Amy Hood, creating an environment of fear and uncertainty. There is a perception that these layoffs are part of a broader shift towards artificial intelligence, with Microsoft executives and shareholders reportedly resenting the investment in Activision-Blizzard. The company plans to invest billions in new AI training centers globally, raising concerns about the impact on its core gaming and consumer products. Microsoft’s AI products have faced criticism, and the company has been accused of losing sight of the human element in its consumer businesses. The recent layoffs have left employees feeling uncertain about their futures, and there is a growing sentiment that Microsoft lacks a coherent mission or ethos, prioritizing short-term gains over long-term innovation.

Winsage

June 20, 2025

Windows 11 migration heats up… on desktops

Businesses are upgrading their desktop PCs in anticipation of the end of support for Windows 10, which is less than four months away. Recent data shows a 22 percent increase in desktop shipments to enterprise customers in Europe during April and May, with revenue rising by 17 percent. Desktops accounted for nearly 17 percent of total PC revenues in early Q2, the highest level in two years. Germany saw significant sales growth, leading to availability issues, while the UK and Poland also experienced increases in desktop sales. Despite this surge, Windows 10 still held a 53.9 percent share of the global desktop Windows market in May, compared to 43.22 percent for Windows 11, with some customers hesitant to adopt the new OS due to economic factors and hardware incompatibilities. Major PC manufacturers have noted a delayed refresh cycle, but signs of growth are emerging. Notebook sales have increased modestly, with unit sales up 2 percent and revenue up 7 percent, driven by AI-ready devices, though adoption is limited by application availability and higher prices. Desktops are crucial for businesses transitioning to Windows 11.

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.