French video game publisher Ubisoft has created a subsidiary focused on three of its most iconic and narratively cohesive brands: the worlds of the time-shifting actioner “Assassin’s Creed,” anthology mystery “Far Cry,” and tactical combat thriller “Tom Clancy’s Rainbow Six.” Essentially a spin-off unit, Ubisoft has secured backing from its minority investor Tencent, which is plowing $1.25 billion into the new venture. The Chinese game giant — sixteenth on the Companies Market Cap list of the world’s most valuable companies, at $593 billion as of this month — in September 2022 upped its stake to 10 percent of Ubisoft. Continue reading Tencent Builds on Ubisoft Stake with $1.25B for New Venture

Facebook parent Meta announced better-than-expected earnings for Q2 last week, surpassing Wall Street estimates for revenue and profit. The company plans to continue spending heavily on artificial intelligence and virtual reality, despite significant losses in its AR/VR and metaverse businesses. Meta reported a revenue increase of 22 percent from $32 billion for the same quarter last year, representing four straight quarters of growth exceeding 20 percent. The company noted that net income jumped 73 percent to $13.47 billion. Advertising revenue, largely from Facebook and Instagram, was up 22 percent year-over-year. Continue reading Meta Reports Q2 Digital Ad Growth, Will Continue AI Spending

Meta Platforms had a successful Q2, reporting double-digit growth for the first time since Q4 2021. The performance was attributed to a rebound in the digital advertising sector. The good news comes with a warning, as the company says it plans to increase spending on virtual reality and artificial intelligence next year. The parent of Facebook and Instagram reported revenue of just under $32 billion for the period ending June 30, an 11 percent gain over 2022. Advertising contributed a whopping $31.5 billion, growing nearly 12 percent year-over-year. Continue reading Meta Sees Double-Digit Growth for the First Time Since 2021

Despite cost-cutting, Meta Platforms is continuing to spend on R&D. Coming in 2025: smart glasses paired with a neural interface watch to control them, according to The Verge, which got to view a presentation the company delivered to thousands of its Reality Labs staffers this week. Among the disclosures: for 2027, full-fledged AR glasses, a format Meta CEO Mark Zuckerberg says will eventually be as ubiquitous as mobile phones. Coming later this year is a thinner, more powerful Quest 3 VR headset priced only slightly higher than the $400 Quest 2. Continue reading Meta Has a Four-Year Plan Including Full-Fledged AR Glasses