Warner Bros. Games is facing significant financial challenges, with MultiVersus underperforming and contributing to a $300 million writedown in 2024. Despite regular content updates, the game's player base has dwindled since its May re-launch, and issues like balance problems and high-priced content have deterred players. Warner Bros. is now focusing on more stable franchises like Game of Thrones and Mortal Kombat, amid rumors of selling its gaming division. The future of MultiVersus remains uncertain.
Restaurant Brands International Inc. (RBI) reported a 3.2% year-over-year increase in consolidated system-wide sales for Q3 2024, with global comparable sales up 0.3%. The company achieved a 6.1% organic growth in Adjusted Operating Income, driven by its five franchisor segments. Despite a slight decrease in income from operations, RBI remains on track to meet its 8% organic Adjusted Operating Income growth target for 2024. The company also completed acquisitions of Carrols Restaurant Group and Popeyes China, contributing to its new Restaurant Holdings segment.
JPMorgan Chase & Co.'s stock reached a new record high, with shares increasing by 1.2% to $172.08, surpassing the previous peak from October 2021. This milestone marks the first record high in over two years for the largest U.S. bank, which has outperformed its major banking peers with a 27% rise in 2023. The bank's robust financial results and a strategic acquisition have contributed to its strong performance, despite CEO Jamie Dimon's caution about the bank "over-earning" in some areas.
