Square Enix’s Financial Performance Remains Strong in Q1, Raises Forecast
Square Enix hasn’t been in the news for particularly positive reasons lately, but that didn’t stop the video game developer and publisher from enjoying strong financial results in Q1 for the current financial year ending 2015. As a matter of fact, the company has raised its forecast for the next six months owing to these results.
In the last quarter, Square Enix’s revenue increased from ¥24.1 billion to ¥37.8 billion year-on-year, which is a 57% increase. Profits were ¥3.4 billion compared to the loss of ¥493 million this time last year. Not surprisingly, digital content is what generated most of the revenue – a total of ¥23.5 billion. In Q1 last year, this amount was ¥11.6 billion.
This performance comes despite a lack of major releases except for Murdered: Soul Suspect, which wasn’t well-received. Square Enix has attributed its success to repeat sales of previously released titles, mobile games, and service-based games such as Final Fantasy XIV: A Realm Reborn.
The company has now increased its forecast for the next six months from ¥68 billion to ¥74 billion.