SQNXF - Square Enix Commits To 'Aggressively Pursue Multiplatform Strategy' To Combat Profit Dip | Benzinga
Square Enix Holdings Co (OTC:SQNXF) is undergoing a company-wide reboot in response to a notable profit dip, despite a slight uptick in sales in the Digital Entertainment segment.
The company reported a ¥8.1 billion (approximately $51.9 million) operating loss in the HD games subcategory, particularly with PlayStation 5-exclusive titles like Final Fantasy 16 and Final Fantasy 7 Rebirth.
Specifics on Final Fantasy 7 Rebirth’s sales figures weren’t disclosed. Square Enix acknowledged the challenge in achieving profitability. The company suffered from an “incomplete journey to better profitability in HD game development’.”
See Also: Square Enix Set For Game Development Revamp Post-Final Fantasy 16: Quality Upgrade By Spring 2024?
The company also admitted that some titles “failed to live up to profit expectations, especially outsourced titles and some AAA titles.”
To counter these setbacks, Square Enix introduced a three-year strategy called “Square Enix Reboots, and Awakens,” aiming for platform diversification. ...