Tuesday , February 7 2023

Square Enix Loses 33 Million Dollars Over Student Reorientation and Annual Profits Half Down


Square Enix has posted an extraordinary loss of $ 33 million, which he accused of focusing on the new three-room studio Luminous Productions. In addition, sales have declined in all areas, and the studio reports half of the profits it received this time last year – despite the publication of such great titles as Tomb Raider Shadow.

Luminous Productions was created earlier in the year using some of the Final Fantasy XV teams. It was supposed to be responsible for new triple-A games and "other entertainment content," for example, about films, but Square Enix has since been focusing its studies on "high-end, high-quality AAA gaming titles that are best suited [Luminous Productions’] strengths. "

According to a publisher's press release (observed by Gematsu), the company posted an "extraordinary loss of 3,333 million yen," which is about $ 33 million. This is undoubtedly a bitter blow to Square Enix, who has earned a bad year each year for annual profits and the sale of video games.

According to GamesIndustry, net sales fell by 15% year-on-year from 132 billion (US $ 1.17 billion) to 112.2 billion lats ($ 1.08 billion). The profit fell by half, and is lower than 8.64 billion (US $ 76.4 million). Transaction profits further decreased from 61% to 10 billion (US $ 88.5 million), and the decline in regular income was 43.6%.

Net sales in the digital entertainment segment fell by 18.9% to € 82.8 billion ($ 732.5 million), while business profits fell by half to $ 13 billion ($ 115.4 million).

That's all, despite the title, like Tomb Raider Shadow, the Square Enix Big Game in September. Although the publisher declined to say how successful Lara Croft's latest adventure, during 2013, physical sales fell by 70%. There were also a lot of complaints and bombs reviewed when the game was sold at 50% just one month after its release, which could indicate that sales were slower than expected.

At least Square Enix is ​​forecasting EUR 270 billion (USD 2.39 billion) for the entire financial year, up 7.8% over the last financial year, and it would be hopefully ending this rather devastating company in 2018.

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