Square Enix remains profitable despite losses by the gambling division

Square Enix remains profitable despite losses by the gambling division

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Square Enix has released its latest earnings report, and despite the fact that its game has been operating at a loss for the past two consecutive quarters, the company has managed to achieve year-on-year growth and remain profitable in the process. Over the course of nine months ending in December 2020, Square Enix reported a 33.7% increase in net sales compared to the same period in 2019.

This increased the company’s operating income by 47.7% to 41.022 million yen, and although it was profitable, the figures were 4.3% lower than in 2019. Final Fantasy VII Remake was a big hit for Square Enix , because its Q1 version has net sales of more than double that of the company’s best period in 2019, which earned 34.1 billion yen.

However, the second and third quarters of the year were less successful, as Square Enix had a decline in net sales and operating income, despite earning 18.8 billion yen in that period. A loss of about 5 billion yen was recorded during this period.

The drop in profits coincides with the release of Marvel’s Avengers in the second quarter, which not only had rave reviews but also struggled to establish a healthy player base and sold below expectations. Sales of MMO games such as Final Fantasy XIV and Dragon Quest X also declined in 2020, but the division still managed to remain profitable thanks to players earning revenue in those games.

Marvel's Avengers
Marvel’s Avengers

Net sales and operating income have risen year after year for games on smart devices and computers, with Dragon Quest Walk, Final Fantasy Brave Exvius and Dragon Quest Tact striking. COVID-19 resulted in a terrible quarter for Square Enix’s entertainment and arcade businesses, but by the third quarter, these divisions were profitable again. The segment continued to suffer an operating loss due to its closure in mid-June in an effort to combat the COVID-19 pandemic.

Since February began, numerous other companies have started posting financial results. PlayStation recorded a notable year with 4.5 million PlayStation 5 sales worldwide, while EA also has plenty of reason to smile, as its Star Wars license has earned the company more than $ 3 billion so far.

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