China Web portal and video game firm NetEase offers some of the most popular online games in China, including U.S.-based Activision Blizzard’s titles “World of Warcraft” and “StarCraft II.” NetEase (NTES) recently made the switch to developing mobile games, as revenue from video games played on mobile devices is expected to rise to $45 billion in 2018, from $29 billion this year, according to a May report from mobile-Internet advisor Digi-Capital.
Chipmaker Ambarella (AMBA) late Tuesday reported better-than-expected earnings and revenue, buoyed by robust sales from key customer and action camera maker GoPro. Santa Clara, Calif.-based Ambarella reported earnings per share excluding items of 71 cents, up 184% from the year-earlier quarter and the fourth straight quarter of acceleration. Revenue jumped 73.5% to $71 million, also the fourth quarter in a row of faster growth. Analysts polled by
Fitbit set terms for its initial public offering that could raise up to $358 million by offering 22.38 million shares at a price range of 14 to 16. An additional 7.5 million shares will be sold by existing Fitbit shareholders, of which the company won’t receive any of the proceeds. San Francisco-based Fitbit makes wearable health and fitness tracking devices that track users’ daily steps, calories burned, distance traveled and floors climbed,