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August 10, 2005
1 Min Read
Following disappointing results yesterday for U.S.-headquartered publisher and developer Atari Inc, the firm's stock price has plummeted in both after-hours trading and on today's NASDAQ stock market. As of press time, Atari's NASDAQ-traded shares were at $1.37, almost 38% down from today's opening of $1.81, and even further down from yesterday's close of $2.20. Its parent company, Infogrames, which has pledged to help Atari through its financial difficulties while facing a difficult climate itself, fared poorly too, with its French-based stock closing at 1.50 euros ($1.85), down over 11% on the day. A Reuters report discussing Atari's poor results referenced pessimism about forthcoming upcoming Infogrames financial results from Exane BNP Paribas analyst Brice Mari, since Atari and Infogrames are still so inter-related, with Mari commenting: "The Q1 figures combined with the poor Q2 outlook given by Atari make us think that H1 earnings at Infogrames will show a significant operating loss and that the fiscal year will be heavily back-end loaded." Atari is still banking on a resurgence via a lineup of games such as The Matrix: Path of Neo, Mark Ecko's Getting Up, and Dragon Ball Z Budokai: Tenkaichi due to debut later this year, but recent financial results have been increasingly bleak.
About the Author(s)
Simon Carless is the founder of the GameDiscoverCo agency and creator of the popular GameDiscoverCo game discoverability newsletter. He consults with a number of PC/console publishers and developers, and was previously most known for his role helping to shape the Independent Games Festival and Game Developers Conference for many years.
He is also an investor and advisor to UK indie game publisher No More Robots (Descenders, Hypnospace Outlaw), a previous publisher and editor-in-chief at both Gamasutra and Game Developer magazine, and sits on the board of the Video Game History Foundation.
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