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FEATURED VOXPOP oblivion437 Update: I was unfortunately not aware of Shamus Young's severe criticism of Fallout 3 available here to link in the original piece and I regret that.  It dovetails rather nicely with what I've written and it's much better executed than my piece.  I strongly recommend anyone...

GAMING NEWS

Square Enix Posts $134 Million Yearly Loss

Posted on Monday, May 13 @ 07:05:00 Eastern by Alex_Osborn

Square Enix posted a net loss of ¥13.7 billion (approximately $134 million) for the fiscal year ending March 2013. This news should hardly come as a surprise, as the publisher made it clear that a restructuring would be putting them in the red this year.
 
The company released the following statement:

The business environment surrounding the [Square Enix] Group is in the midst of major changes, where smart devices such as smartphones and tablet PCs are spreading rapidly, while the console game markets in North America and Europe are increasingly competitive and oligopolistic. In light of such environmental changes, the Group is focusing all efforts on a substantial earnings improvement through driving reforms of business structure in order to establish new revenue base.

Fortunately, Square Enix is expecting a turnaround in the coming months. In fact, the publisher believes the changes will make them profitable on the order of $344 million to $590 million over the coming year.

[SourceVia]
Tags:   Square Enix
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