Square-Enix cuts losses by 75%

Written by David Hing

August 7, 2013 | 08:28

Tags: #financial #loss

Companies: #square-enix

In its most recent quarterly financial report, Square-Enix has managed to cut its quarterly losses by 75% compared to the same quarter last year.

The ailing publisher still finished the quarter with a £3.26m loss and did not release anything major over the three month period ending June 30 2013. In the same period in 2012 however, the loss stood at £13.7m.

Browser games including Sengoku IXA and DragonQuest X Online helped to drive the £159.4m revenue and digital sales increased year-on-year by 2.1%, bringing in £76.7m.

This was further buoyed by the publisher's arcade system business and also manga publishing activities. The company's console business is however contributing very little at this point.

In a separate statement issued alongside the financial results, Square-Enix also booked an Extraordinary Loss of £10.5m in response to 'the latest environmental changes in the game industry'. The one off loss recorded by the company is as a result of a comprehensive review conducted on titles currently in development.

The nature of this loss does not however mean the publisher has to revise its financial outlook for the year. An end-of-year net profit of approximately £23m-£39m.

Square-Enix recently lost Eidos Montreal founder Stephane D'Astous who cited 'irreconcilable differences' with the publisher as his reason for stepping down.

The company's end-of-year financial results published in March showed that Square-Enix had fallen short of its forecast with a £90m loss, blamed on the slow sale of console games in the West as well as company restructuring.
Discuss this in the forums
YouTube logo
MSI MPG Velox 100R Chassis Review

October 14 2021 | 15:04