First-quarter sales rose 11.9% year over year, landing at $689 million. Adjusted earnings fell from $0.33 to $0.29 per diluted share. The analyst consensus had called for earnings near $0.32 per share on top-line sales of roughly $680 million, so it was a mixed bag. That being said, the results exceeded management's guidance targets across the board.
The cost of running Fortnite has gone up a lot and we're raising prices to help pay the bills. It's pure operating costs of running a business, and that was the main push. We're going to continue to, as a business, focus on creating amazing games and gameplay, but the price hike is a direct correlation to the operating costs.
Self-generated income sources are riskier and more susceptible to external factors, such as tourism costs like travel and accommodation, and exchange rates. 'Blockbuster' exhibition income is volatile and high risk, with membership revenue also becoming unstable due to high membership churn.
The electric cargo van was great to drive, shockingly refined and offered 200 miles of real-world range. The problem was, the loaded extended-wheelbase model I drove was $93,563. I couldn't quite square whether that was a fair value, given its low running costs, and that no one else really offers a van like this. Now, I don't have to. Mercedes just put a $30,000 incentive on 2024 models (yes, 2024 modelsyou read that right), making them a slam-dunk deal.
What we'd love to see is a Budget that's pro-growth and pro-jobs which, as a result, will help customers with the cost of living.
