G5 Entertainment earned $33.6 million in the first quarter of 2023

The Swedish company G5 Entertainment has published a report for January-March 2023. She revealed financial indicators, and also spoke about the use of AI.

▪️G5’s quarterly revenue was $33.6 million. An increase of 4%, if you count in Swedish krona, and a fall of 7% in dollars.

▪️Gross profit of G5 was $22.7 million. Growth of 5% in Swedish crowns.

▪️8% of the company’s revenue came from the G5 Store. The growth rate of the store’s income for the year increased to 130%.

The main hit of the company was Sherlock again, which earned 27% more in the first quarter of 2023 than at the same time a year earlier.

▪️Currently 961 people work in G5. The largest office of the company is located in Ukraine — 329 people work there. Another 41% of employees work in Montenegro, Kazakhstan, Armenia, Georgia and EU countries. Less than a quarter of G5 employees are located in Russia.

G5, like many other companies, became interested in artificial intelligence technologies. She said that she is already actively using them to perform some tasks (which ones are not specified). As G5 hopes, AI will allow it to increase efficiency and save money.