Square Enix Posts M Loss After Release Of Underperforming Marvel’s Avengers
Square Enix posts $ 48M loss after release of underperforming Marvel Avengers. Driven by Marvel’s Avengers’ poor revenues, Square Enix reported an operating loss for the second quarter of the current financial year in its HD Games division of more than ¥5 billion, or $ 48 million. This information comes from the most recent financial reports published, covering the six-month period from April to the end of September 2020.
Marvel’s Avengers, a Crystal Dynamics live service game, was heavily promoted and expensively developed. It was panned by both critics and the wider audience of gaming. Following BioWare’s Anthem in 2019, it is the second high-profile failure of a live service game in as many years.
Square Enix’s HD Games division is responsible for its big games releases, but not its MMOs or mobile games. Despite the losses, the HD games division did do more business in both quarters of 2020 than in comparable periods in 2019. The MMO division, responsible for games like Final Fantasy XIV, posted profits in both quarters this year.
Square Enix hasn’t reported sales numbers. Tokyo-based games industry analyst David Gibson said in a tweet that the sales volumes were lower than Square Enix had planned. Gibson further noted that based on Square Enix’s reported numbers the game likely cost upwards of $ 170 million to make.
[image: Wallpaper Access]
The post Square Enix Posts $ 48M Loss After Release Of Underperforming Marvel’s Avengers appeared first on FortuneZ.