Square Enix sales up, profits down in first half
After releasing its revised forecast for the first half of its fiscal year last week, Square Enix has announced the actual results (PDF). Surprise, surprise, the revised forecasts were right on the money, with the company reporting net sales of ¥61 billion ($760 million) for the six months ended September 30, an increase of ¥3.5 billion ($43.6 million) over the same period last year. As forecast, Square has posted a ¥5.4 billion ($67 million) net loss during the past six months, compared to a ¥3.7 billion net income during the same period last year.
The company's performance is laid at the feet of lower than expected console game sales, development costs for mobile games and "sluggish" arcade machine sales and revenues. Last week's forecast specifically mentioned slow sales of "a major HD game title," presumably Sleeping Dogs, which launched in August.
