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Square-Enix Profits Double, Also Promising More Switch Support
The house that Final Fantasy built has been having a fantastic quarter, reporting 200% profit in the quarter ending September 30.
During an earnings report today, Square-Enix reported that their total profit has exceeded ¥17 billion, a 218% increase over the same period last year. The company gave the credit to Dragon Quest XI in Japan, as well as strong download sales of games like Nier: Automata. Another tent pole for them has been Final Fantasy XIV, acting as a top performer with its recent expansion of Stormblood.
They are not quite as optimistic for the rest of the year, expecting profits to be down overall for the financial year. This past quarter was just a perfect storm of big releases and continued momentum.
Also as part of the fiscal report, the company stated that they are bullish on Switch support and see it as a home for midrange titles that have been more or less eliminated through the rest of the industry. Square-Enix said that they intend to "aggressively" pursue more Switch titles and does not rule out the idea of multiplatform titles shared with other consoles.
[Source: Square-Enix Investor Report]
Our Take
Things are looking good for Square-Enix, so hopefully they can keep the momentum going. They were smart to get in on the Switch early with Octopath Traveler, so more games in line with those expectations would be great.
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