Latest in Gaming

Image credit:

Square Enix posts $61 million nine-month net loss, net sales up


Square Enix's net loss for this fiscal year is now ¥5.7 billion, which converts to around $61 million. Compare that to last fiscal year, when the company turned a net profit of just over ¥5 billion, or around $53.5 million, and it's a drastic difference. Square Enix stated it hadn't recovered the losses posted in November 2012 because of "the increasingly difficult condition of the worldwide console game market."

Net sales, however, did see year-on-year growth of over 7 percent to ¥102.8 billion, or around $1.1 billion. Square Enix also noted acceptable profits for mobile and social networking games like Final Fantasy Airborne Brigade and Final Fantasy Artniks.

Looking ahead, Square Enix forecasts end-of-fiscal-year net profits of ¥3.5 billion yen, or around $37.3 million, that figure down year-on-year by 42 percent. The company expects content expansion and the launch of "full-scale commercial services for major MMO titles," to drive earnings up.

From around the web

ear iconeye icontext filevr