Square Enix Posts Loss for the First Quarter
Square Enix has released their latest financial report and it doesn't look pretty.
Square Enix has announced their earnings report for the first quarter and the publisher has posted a net loss of 2,077 million Yen.
Total sales for the three-month period through fiscal year June 2012 reached 24,914 million Yen, this is on par with last year's earnings of 24,529 million Yen. Overall, the company posted an operating loss of 1,163 million Yen, which is a major loss compared to last year's operating profit of 2,178 Yen. Last year, Square Enix saw a net profit of 690 million Yen.
The publisher is putting the blame for this year's loss on poor console game sales.
In addition to this, Square Enix's digital entertainment division, which also includes videogames, saw sales of 11,336 million Yen, down 3.9% from the previous year. The digital division saw an overall operating loss of 111 million Yen this year, while it saw an operating gain of 2,384 million Yen last year.
Hopefully, Square's upcoming games like Sleeping Dogs and Hitman: Absolution will net them some pretty coin to reverse their fortunes.
Which Square Enix game are you most excited to play in the future?