Software companies ServiceNow and Freshworks reported positive Q3 2023 earnings, with ServiceNow surpassing expectations and Freshworks experiencing revenue growth [1be99a7a] [8818059c]. However, Upland Software reported a decline in earnings for the same period [5acf4561].
In contrast, Graphisoft Park, a business park in Budapest, reported a 29% increase in after-tax profit in Q1-Q3. Rental revenue also rose by 9% with a high occupancy rate of 97%. The company pays a significant portion of its earnings as dividends and has raised its guidance for rental revenue and net profit for the full year [a83cf64e].
Meanwhile, Frontier Developments, a game publisher, has announced its plans to refocus its development and publishing efforts on creative management simulation (CMS) games [09a87e7b]. The company believes that CMS games have delivered stronger and more predictable returns compared to other genres. Four CMS games released by Frontier Developments were profitable within a month and achieved a 100% return on investment within a year. As part of its new focus, the company plans to release three more CMS games over the next three financial years. Despite a decrease in expected revenue for the current financial year, Frontier Developments aims to break even in revenue in the next financial year through the ongoing performance of existing games and the release of the planned CMS titles. The company also expects to reduce operating costs by 20% through an organizational review.