Square Enix turnaround on track

1 min read
Square Enix’s quarterly results for the financial year paint a picture of a company that is just about back in the black: the company has reduced its losses by 75 per cent year-on-year.

For the quarter the company reported a loss of  ¥493 million ($5 million US), which is a pittance compared to the loss it experienced in the same period in 2012 (¥2.01 billion ($21 million US)).

Furthermore, that loss can be largely attributed to a one-off expense. Square Enix reported an extraordinary expense of ¥1.6 billion ($16.2m US) due to a comprehensive review of work-in-progress games. Based on that number it seemed that a number of games were cancelled and this created a cost that needed to be written off by the company. Without this loss, Square Enix would have reported a profit.

It’s also worth noting that Square Enix did not release a major game in the quarter, which would have bitten into its potential revenue.

The company’s browser and social games are performing very well, it claimed in its report. Sengoku IXA and Kaku-San-Sei Million Arthur were highlighted as especially strong performers.

Square Enix is still anticipating a full-year profit of ¥3.5 to 6 billion.

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