Embracer Group Report: revenue over $1 billion, 900 people laid off

Embracer Group has published a financial report for July-September 2023. In it, the Swedish company reported that for the first time in history it laid off about 900 people in a quarter — that's 5% of the staff. Despite everything, she is confident that she will only become stronger as a result of the restructuring.

The main thing from the report:

Embracer Group closed the quarter with a net loss of $ 53 million . A year ago, it reported a profit of $225 million.;

Embracer Group's net sales amounted to $1.02 billion, which is 13% more than in July-September 2022;

▫️ The board game segment was the best in sales — $ 385 million . An increase of 25% in annual terms. Next are console and PC games ($369.7 million, -5%) and mobile games ($139 million, +2%);

If we talk about quarterly sales of only new PC and console games, they amounted to $132 million. This is one of the best indicators in the company's history;

Since its release on July 25, Remnant II has sold over 2 million copies. Net sales of the game exceeded $66 million;

Embracer Group has repelled investments in Payday 3. The company expects that by the end of the year it will earn on the game, but not as much as it originally planned;

Sales of Jagged Alliance 3, Ride 5 and The Lord of the Rings: Return to Moria are generally in line with the expectations of the Embracer Group. In turn, Trine 5: A Clockwork Conspiracy did not meet expectations;

▫️As of September 30, Embracer Group employed 15,701 people.