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Embracer misses quarterly profit forecast on higher costs, weak box office

Channel News Asia LogoChannel News Asia5h ago

Embracer misses quarterly profit forecast on higher costs, weak box office - Channel News Asia

Quick Summary:

Swedish games developer Embracer's third-quarter operating profit came below market expectations on Thursday, as higher user acquisition costs in mobile games and weaker-than-expected box office performance weighed on results.

We will make sure we are adapting to the changes in the industry and consumer demands," CEO Lars Wingefors told Reuters.

"The industry is still in a consolidation phase where there are layoffs driven by lack of capital and new technology tools in efficiency progress...


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Article Details

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-13 @ 16:04:09 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 390 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 26114714

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About Channel News Asia

Channel News Asia Logo

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 66 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 1 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #27

Publisher Details

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  • URL: https://chronographically.beamstart.com/news/embracer-misses-quarterly-profit-forecast-17394352

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