Square Enix’s share price dropped nearly 15% today following its latest earnings release and claims Final Fantasy 16 didn’t meet the ‘high end’ of expectations.
Square Enix share price drops amid claims Final Fantasy 16 didn’t meet ‘high end’ expectations7th Aug 2023 / 9:51 am‘s share price in Japan has dropped by nearly 15% following the company’s latest earnings release.
The publisher reported its Q2 2023 earnings on Friday, during which it stated that revenue had increased around 14% year-on-year but profits had dropped around 65%. When the Tokyo Stock Exchange closed on Friday, Square Enix’s share price sat at ¥6,366. When it opened earlier today, however, the price had dropped to ¥5,566 and stayed around this figure throughout the day, dropping to ¥5,457 at one point., its worst intraday drop in three years.
Bloomberg also claims that one of the reasons for Square Enix’s underwhelming financials is the launch ofThe publication cites three separate sources who attended Square Enix’s post-earnings call, all of whom claimed president Takashi Kiryu said the game’s initial sales, in Bloomberg’s words, “did not meet the high end of the company’s expectations”.
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