Fri, Feb 03, 2012 | 19:36 GMT
Square reports revenue and profit growth due to Deus Ex, social, and FFXIII-2
Square Enix has released its financial results for the nine-month period ending December 31, 2011, and the firm reported increases in both revenue and profit thanks to its games division as well as its social and online offerings.
While sales across all sectors were rather flat in comparison year-over-year, its games sector grew 6% with revenue reaching ¥53.7 billion ($704.7 million) compared to ¥50.57 billion ($663.7 million) for the same period last year. to now. Profit was up 11.5% to ¥12.45 billion ($169.4 million) compared to ¥11.16 billion ($146.5 million) in the year prior.
Square attributed the growth in its game division to Japanese sales of Final Fantasy XIII-2 as well as worldwide sales of Deus Ex: Human Revolution, which has sold over 2.18 million copies since its release in August 2011.
“During the nine-month period ended December 31, 2011 the Group’s results included increased sales of console games boosted by our major titles, as well as continued expansion in fee-based service revenues from growth areas including content for the web, smartphones and social networking services,” said president Yoichi Wada in the prepared statement.
“In the current fourth quarter despite the release of Final Fantasy XIII-2 in Europe and North America, expected costs including up-front expenditures in content development for growth areas during the period cause us to keep forecasts for the fiscal year unchanged.
“As I stated at the start of the fiscal year, we are focusing all efforts on rebuilding the Group businesses toward generating a substantial earnings recovery from the fiscal year ending March 31, 2013 and beyond.”