Square Enix has announced a 90% drop in its projected profits, a disaster it grovellingly blames on Final Fantasy XIV.
The revised fourth quarter financial estimate:
Sales:
Before: ¥160,000,000,000 ($1.9 billion)
After: ¥130,000,000,000 ($1.5 billion)Net profit:
Before: ¥12,000,000,000 ($143 million)
After: ¥1,000,000,000 ($12 million)
Square Enix’s explanation is that “a slump in console sales and an exceedingly critical market reception to our main titles” caused the plunge and goes on to admit that it was because “Final Fantasy XIV failed to live up to consumer expectations of a Final Fantasy title.”
With Wada still hanging on to his post and Final Fantasy XIV likely a write-off, it seems Square Enix’s troubles may yet continue.
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