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Square Enix Reports Year-Over-Year Financial Turnaround
Square Enix has reported its earnings for the quarter ending December 31, 2013. The publisher reports increasing sales of Final Fantasy XIV: A Realm Reborn, which contributed to a significant improvement over this quarter in 2012.
The financial report includes net income of ¥2.573 billion ($25.4 million) for the quarter, compared to a loss of ¥265 million ($2.62 million) during the same quarter last year. Sales were down slightly (.3 percent) over last year.
Square Enix is projecting positive net income for the year ending March 31, 2014, in the amount of ¥3.5 billion - ¥6 billion ($34.6 million - $59.2 million). This quarter will see Bravely Default and Lightning Returns: Final Fantasy XIII release in the west. Tomb Raider: Definitive Edition sales will also contribute exclusively to the final quarter of the fiscal year.
[Source: Square Enix]
Our Take
This is impressive turnaround, especially after a number of quarters that saw layoffs. Previous quarters were also marked by strong sales of titles that the publisher deemed “underperforming.” It’s a change that I hope Square Enix is able to bring forward into coming years.
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