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Stock impact report

Video Gaming Stocks Q2 Highlights: Skillz (NYSE:SKLZ) [Yahoo! Finance]

Skillz Inc. Class A (SKLZ) 
Company Research Source: Yahoo! Finance
Since videogames were invented in the 1970s, they have gradually taken more share of entertainment time. Ubiquitous mobile devices have powered a surge in “snackable” games that can be played on the go. Over time, games have developed more social engagement features where friends can play games together over the internet. The business models of games publishers have become less volatile due to digitization of distribution, in game monetization, and like Hollywood, an increasing dependence on surefire hit franchises. Covid driven lockdowns accelerated adoption and usage of videogames – a trend that has not slowed. The 4 video gaming stocks we track reported a slower Q2. As a group, revenues beat analysts' consensus estimates by 0.9% while next quarter's revenue guidance was 2.4% below. Stocks, especially growth stocks with cash flows further into the future, had a good end of 2023. On the other hand, this year has seen more volatile stock market swings due to mixed inflation data. Show less Read more
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