Square Enix stock plummeted over 10 points on Monday, November 11. The company hence lost the equivalent of hundreds of millions of dollars in market capitalization, with this turn of events likely being prompted by Square Enix reporting some mixed financial results.
Square Enix's operating profit has been on a steady decline since its 2022 peak. The Japanese gaming giant's latest financial report suggested that this trend might have finally reversed, with the company reporting that it generated $136 million in profit over the six-month period ending September 2024, a 22% year-on-year increase.
Square Enix announces a multi-platform pivot, suggesting PlayStation could be losing the source of some of its biggest third-party console exclusives.
Square Enix's stock still declined by over 10% by the close of trading at the Tokyo Stock Exchange on Monday, November 11. Some Japan-based industry watchers speculate this development can be attributed to a number of troubling figures contained in the company's latest financials. E.g., although the operating profit for the reported six-month period has increased year-on-year, it has most recently been on a heavy decline, falling 27% in Q3 2024. Combined with the fact that Square Enix's premium game sales...
