Square Enix Reports Record Sales of $3 billion.
Earlier this month, Square Enix shared its earnings for the fiscal year of 2020. The company reported that it recorded the highest revenues ever with sales reaching $3 billion. The publisher shared that high sale figures were mostly driven by the release of Marvel’s Avenger and Final Fantasy VII Remake.
In the fiscal year that ends on March 31st, the net sales of Square Enix were reported at $3 billion. This is an increase of 27.6% year over year. Moreover, the operating income also increased by 44% raking up to $429 million. As for ordinary income, it also witnessed a growth of 55.7% which means $456 million.
Square Enix said that the increase in digital sales was considerably up when compared to last year. This upward trajectory was due to the launches of Marvel’s Avengers and Final Fantasy VII Remake. Net sales, when compared with last year, are up 40% year over year at $2.4 billion. The operating income also increased by 43% year over year at $456 million.
Although the report seems promising Square Enix also reported losses in its amusement side of the business. The company’s amusement segment was shut down temporarily in Japan due to the global pandemic. The closure resulted in a decrease of sales by 25% year over year raking up only $310 million.
As for the current year, Square Enix predicts net sales of $3.1 billion; an increase of 2% year over year. Moreover, it also forecasts the operating and ordinary income to reach $365 million; a growth of 15% and 20% respectively.
With COVID-19 restrictions being softened gradually, the amusement segment will improve in the coming year. As for net sales, Square Enix should plan to launch a couple of big titles to further increase sales numbers. Stay with us for more updates on the gaming industry.
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