Square Enix’s financial results are significantly below expectations

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Financial results for the past financial year 2023/2024 (up to the end of March) are presented for Enix Square disappointing again. In terms of sales, the situation has improved slightly, especially by 3.8% to $2.28 billion.but above all, the profit margin fell by as much as 69.7% to $95.5 million..

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Square Enix warned in advance that the amount spent on canceled projects would affect results. Even without taking into account these 140 million, this year’s results do not fit into last year’s forecasts.

Over the past twelve months, the Japanese publisher has sold more than 26 million copies of games. This is a slight improvement over last year. Video games demanded 1% more than last year, so-called growth HD gamescame out Final Fantasy XVI And Rebirth of Final Fantasy VII. However, for the sake of context, it should be added that last year’s biggest game in this category was the unsuccessful Forspoken. Conversely, revenue from mobile and MMO games fell.

For next year, Square Enix predicts a slight decline in sales, but above all an increase in profits of almost 90%. He wants to achieve this by changing his strategy, his game. is going to release a multiplatform. He will also focus on fewer games as he wants to focus mainly on their quality. Even Square Enix will not avoid layoffs; they will affect the American and European branches. The cuts will affect the London division Teamwhich publishes games from independent developers.

Source :Indian TV

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