Embracer Group, the owner of 'Lord of the Rings', has reported a rise in operating profit but a drop in sales within its entertainment division. The company also announced the departure of its CFO and deputy CEO, Johan Ekström, after five years. CFO duties will be taken over by deputy CFO Müge Bouillon, while Crystal Dynamics boss Phil Rogers will assume the role of deputy CEO. Embracer's FY2022-23 net sales increased by 12% year-over-year to approximately $3.9 billion, with PC/console games up 7% to $1.3 billion and mobile up 2% to $551 million. However, the company's shares slipped following a Q4 sales miss. Additionally, the reboot of 'Alone in the Dark' failed to meet sales expectations despite positive user reviews, leading to staff layoffs. 'Outcast: A New Beginning' also performed poorly, while 'South Park: Snow Day' sold in line with expectations.
Embracer says the reboot of the 90’s classic horror Alone in the Dark "performed below management's expectations" despite receiving positive user reviews. The studio reportedly downsized a month after the game's launch: https://t.co/gt1mh1mlwh #gameindustry #gamedev https://t.co/6FVoe147pQ
Alone in the Dark Reboot Flopped, Embracer Says After Laying Off Staff https://t.co/DrFmMns9QJ https://t.co/VvqfjuRiZ3
The reboot of Alone in the Dark sold worse than expected, Embracer Group says. Outcast: A New Beginning performed similarly poorly, but South Park: Snow Day sold in line with expectations. https://t.co/FglxpZfZky https://t.co/ncllasObDP
The Alone in the Dark reboot failed to meet sales expectations at the embattled Embracer Group, it has said. https://t.co/se9vE7rTWT https://t.co/HvWhSxFCTR
Alone In The Dark Reboot Starring Marvel And Star Wars Actors Comes Up Short https://t.co/3V7zX1IrdY https://t.co/cTkSMHUMP1
Video game maker Embracer Group shares slip after Q4 sales miss forecasts https://t.co/hiq9nlE9E8 https://t.co/DUgmcBUbyK
Embracer reports FY2022-23 net sales up 12% YoY to ~$3.9B, PC/console games up 7% YoY to ~$1.3B, and mobile up 2% YoY to $551M; its CFO and deputy CEO step down (@james_batchelor / https://t.co/r0l8RgfWYZ) https://t.co/aX6GltA1vz https://t.co/bhNjCoMKMr
Embracer CFO and deputy CEO to depart after five years https://t.co/QGJ6RBVdA7 https://t.co/trzc7aptt6
Embracer CFO and deputy CEO Johan Ekström is stepping down CFO duties will pass to deputy CFO Müge Bouillon, while Crystal Dynamics boss Phil Rogers will become deputy CEO https://t.co/2QxmNgNWTA
Embracer CFO Set to Exit as 'Lord of the Rings' Owner Reports Rise in Operating Profit, Drop in Entertainment Division Sales https://t.co/twRKmZNgOC