Square Enix Sales and Earnings Down For the Quarter
Company making progress towards targets for full year, says CEO.
Square Enix saw drops in sales and earnings for the first three months of the fiscal year. The company's earnings report for the April through June period, released today, shows sales of 24,529 million yen, down from the 32,540 million yen of the same three month period in 2010. Operating income was down from 5,434 million yen to 2,178 million yen.
Specifically look at digital entertainment, which covers the company's video game business, sales were down 29.1% to 11,793 million yen. Operating income was down 51.9% to 2,834 million yen.
Regarding the results, CEO Yoichi Wada said "In a quarter without major title releases, our group's sales and profit were lower compared to the previous fiscal year. At the same time, however, we are making solid progress toward our targets for the full fiscal year ending March 2012."
Those targets are 130,000 million yen in sales, up from last year's 124,271 million yen, and 10,000 million yen operating income, up from last year's 7,325 million. The company expects net earnings of 5,000 million yen this year, compared to a loss of 12,043 million last year.
You can read up on Square Enix's earnings for yourself through these resources: