Square Enix Revises Profit Forecast Upwards Due to Strong Performance of Final Fantasy XIV
Square Enix announced today that they're revising upwards their profit forecast for the year (April 1, 2019 - March 31, 2020) due to strong performance from "Final Fantasy XIV" and the mobile game "Dragon Quest Walk". Square Enix reported the following in the announcement:
"...the Company now expects higher operating income, ordinary income, and profit attributable to owners of parent than previously anticipated under its forecasts because of contribution profit from expansion pack sales and subscriber growth for the massively multiplayer online roleplaying game “FINAL FANTASY XIV” in its MMO sub-segment, a strong performance from “DRAGON QUEST WALK” in the Games for Smart Devices/PC Browsers sub-segment, and sales growth in digital formats such as the “MANGA UP!” comic app and e-books in the Publication segment.
Final Fantasy XIV's strong performance shouldn't be surprising given the worldwide Coronavirus quarantines. What better time to catch up on an MMO?
Square Enix revised their operating income forecast for the year upwards by $80.9M and also raised their expected dividend payment to shareholders from 43 Yen per share to 54 Yen per share.
The remarkable thing about this revision is that overall profit at Square Enix is increasing for the year ended March 31, 2020 DESPITE Final Fantasy VII Remake being delayed to April, 2020. Expect more details about the company's performance once they report earnings in the next few days.