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Square Enix Share Price Drops Amid Claims Final Fantasy 16 Didn’t Meet ‘High End’ Expectations
Square Enix’s share price has decreased by almost 15% In Japan. As the outcome of its most recent earnings report.
Well-known gaming company Square Enix recently had an issue. Its share price in Japan fell by about 15% on their most recent earnings report.
So, what exactly went down with Square Enix? Well, they just revealed their financial results for the second quarter of 2023. And while their revenue did see a decent 14% growth compared to last year, their profits went in the opposite direction, dropping a whopping 65%. Ouch!
Now, hold on to your potions, folks, ’cause here’s the juicy part. The main suspect in this financial whodunit seems to be none other than the highly anticipated game, Final Fantasy 16. You know, the game we’ve all been eagerly anticipating? Yeah, that one!
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| Image Credit: Square Enix |
According to Bloomberg who were on the scene during Square Enix’s post-earnings call, President Takashi Kiryu made a surprising confession. He said the game’s initial sales didn’t quite hit the mark they were aiming for. Bummer! Looks like the “high-end” expectations weren’t entirely met.
There’s another twist in the story! Kiryu pointed out that the slow adoption of the PS5 played a part in this unexpected outcome. With not everyone having upgraded to the latest console, it limited the number of potential buyers for Final Fantasy 16. Hmm, makes sense.
Now let’s look at something positive before you start mourning. Kiryu didn’t lose hope, and neither should we. He believes that as hardware shortages ease up, opportunities to boost software sales will open up like treasure chests in a dungeon. And you know what means that – more chances for the awesome games we love!
Let’s do a bit of comparison here. Final Fantasy 16 managed to ship and digitally sell three million copies within its first week after the grand release in June. Not bad, huh? It’s quite similar to the numbers its predecessor, Final Fantasy 7 Remake, achieved – around 3.5 million copies in ten days. Well, close enough!
Oh, and speaking of numbers, let’s not forget Final Fantasy 15, the champion of sales. When it hit the scene, it flexed its gaming muscles and managed to sell a whopping five million units within the first 24 hours across multiple platforms. Now, that’s legendary!
Square Enix might have hit a rough patch with the share price drop, but it’s not game over just yet. Square Enix is no stranger to this journey; the ups and downs of the gaming industry are similar to the twists and turns of an exciting RPG.
As they gear up for future quests and as the PS5 adoption picks up speed, we can expect some exciting new releases that’ll surely capture our hearts. So, keep your spirits high and your game controllers at the ready, ’cause the journey is far from over!
