Konami report: Quarterly revenue increased by 5.2%, but profit fell immediately by 27.8%

Japanese Konami has released a report for the first quarter of fiscal 2023. The company reported that its revenue increased to $536 million, while operating profit fell to $104 million.

As for the division dealing with video games, then:

▪️its revenue was $378 million (+1.9%);
▪️Operating profit — $100 million (-30.3%);
The company explained the drop in profits by spending on new releases.