Tag Archives: Q3 2024

Remedy Entertainment, the renowned Finnish game developer behind hits like “Alan Wake” and “Control,” has announced some exciting financial news. In their latest earnings report, Remedy revealed that Alan Wake 2 has finally turned a profit, while Control 2 is set to enter full production.

Alan Wake 2″ released in October 2023, has been a long journey for Remedy. The game recently surpassed the two million sales mark, allowing it to recoup its development and marketing costs. This milestone means that Remedy has started accruing royalties from the game, marking a significant financial victory for the studio3.

The success of “Alan Wake 2” can be attributed to several factors. The release of the The Lake House expansion, the physical deluxe edition, and updates to optimize the game for PS5 Pro have all contributed to its sustained popularity. The game’s sales saw a significant boost in October 2024, thanks to these efforts.

Another exciting announcement from Remedy is that Control 2 is entering full production. This project, financed through a partnership with Annapurna Interactive, has been in the works for some time1. With the production pipelines established and asset creation verified, Remedy is ready to scale up production.

“Control 2” is highly anticipated by fans of the original game, and its development has been progressing smoothly. The studio has also provided updates on other projects, including FBC: Firebreak, a cooperative multiplayer shooter set in the Control universe, and the remakes of the first two Max Payne games.

Q3 2024 Highlights:

Record Revenue: Remedy reported a significant increase in revenue for Q3 2024, reaching approximately $20 million (EUR 17.9 million), more than double the previous year’s figure.
Positive Operating Profit: The company achieved a positive operating profit of approximately $2.7 million (EUR 2.4 million), compared to a loss of EUR 4.2 million in the same period last year.
Cash Flow: Cash flow from operations was positive at approximately $7.4 million (EUR 6.6 million).
Development Fees: Development fees reached approximately $19 million (EUR 17 million), 2.5 times the amount in the comparison period.
Year-to-Date Performance: Year-to-date revenue was approximately $43.7 million (EUR 39 million), a 65% increase from the previous year. However, year-to-date operating profit remained negative at approximately $3.3 million (EUR 2.9 million), showing improvement from the previous year.
Total Cash Level: The total cash level increased to approximately $34.9 million (EUR 31.2 million), up by EUR 5 million from the previous quarter.

Remedy’s CEO, Tero Virtala, expressed confidence in the studio’s future, stating:

We are in a great place to begin our strategy period and have set targets we are confident in reaching.

With Alan Wake 2 now profitable and multiple exciting projects in the pipeline, Remedy Entertainment is poised for continued success.

Business, Games, Gaming, News

Q3 2024 for Konami is official in middle of Metal Gear Delta: Snake Eater 3 release’s expectations

January 31, 2025 GeeZusGG

Konami Group Corporation recently announced its financial results for the third quarter of fiscal year 2025, covering the period from April to December 2024. The company reported impressive growth across its business segments, with a notable increase in revenue and profit (numbers converted on US dollar equivalents).

Revenue: $2.00 billion, up 22.8% year-on-year.
Business Profit: $560 million, up 38.7% year-on-year.
Operating Profit: $557 million, up 45.5% year-on-year.
Profit for the Period: $410 million, up 41.8% year-on-year.

The strong performance was driven by the success of titles such as Silent Hill 2 and eFootball, which exceeded sales expectations and contributed significantly to the company’s digital entertainment segment.

Now Konami expects to end the fiscal year in March with $2.66 billion in revenue, $696 million in business profit, and $645 million in operating profit. This is significantly higher compared to the previous prediction of $2.45 billion, $597 million, and $545 million respectively.

Only time will tell if Konami nails that outlook.

Expectations for Metal Gear Solid Delta 3: Snake Eater

One of the most anticipated releases from Konami is the remake of Metal Gear Solid 3: Snake Eater, now titled Metal Gear Solid Delta 3: Snake Eater. This remake has generated a lot of excitement among fans and industry experts alike.

Here are some of the key expectations for the game:

Camouflage System Remastered: The original game’s camouflage system was a standout feature, allowing players to blend into their surroundings. Fans are hoping for an even more immersive and visually enhanced version in the remake.
Better Movement: The original game’s movement mechanics were somewhat clunky, and players are looking forward to smoother and more responsive controls.
Refined Close-Quarters Combat (CQC): The melee combat system in the original game was considered one of its weaker points. The remake is expected to feature a more refined and satisfying CQC system.
Improved Survival System: The survival elements of the game, such as hunting and crafting, are expected to be enhanced to provide a more engaging experience.

Konami’s Q3 2025 financial results showcase the company’s strong performance and growth potential. With the highly anticipated release of Metal Gear Solid Delta 3: Snake Eater, fans and investors alike have high hopes for the future. The success of this game could further solidify Konami’s position in the gaming industry and drive even greater financial success in the coming quarters.

Business, Gaming, News

Capcom ended 2024 with a sudden stop on positive quarters

January 30, 2025 GeeZusGG

For those who has been following corporate news and mainly from Capcom, the Japanese veteran has been nailing good numbers in each earning report from the past 2 years, but of course and unfortunately, some things cannot last forever and this is what the latest earning can tell us.

Capcom released its consolidated financial results for the 9 months ending December 31, 2024 for its Q3 for the fiscal year 2024. The report provides a comprehensive overview of the company’s performance and future outlook, revealing both challenges and opportunities ahead.

The creators of franchise like Megaman, Resident Evil, Street Fighter and other classics, reported net sales of 88.853 billion yen or around $573.08 million, a decrease of 16.3% compared to the same period last year. The operating income also saw a significant decline, dropping by 33.4% to 23.066 billion yen or around $149.84 million.

Despite these decreases, Capcom remains optimistic about its future performance, citing several key factors contributing to its resilience.

The Digital Contents segment, which includes home video games, experienced a slight decline in unit sales for new titles. However, the performance of catalog titles (excluding those released in the previous fiscal year) has steadily increased year over year2. The Arcade Operations business saw growth in existing stores, which were utilized as cooling shelters during hot weather, resulting in increased revenue and profit. The Amusement Equipments business launched two new models and sold 17,000 units as planned, benefiting from cost reductions through the procurement of common components.

Future Outlook

Capcom has maintained its full-year forecast, with expectations of increased sales and profit due to digital sales growth in the Consumer sub-segment. The company forecasts an earnings per share of ¥109.98 (US’ 71 cents) and a dividend of ¥36 (US’ 23 cents) for the fiscal year ending March 31, 2025. Capcom aims for 12 consecutive years of operating profit growth, driven by the stability of Digital Contents and strong performance in the Amusement Businesses.

Key Takeaways

Resilience Amid Challenges: Despite a decrease in net sales and operating income, Capcom remains optimistic about its future performance.
Growth in Digital Sales: The company expects increased sales and profit due to digital sales growth in the Consumer sub-segment.
Strong Performance in Amusement Businesses: The Arcade Operations and Amusement Equipments businesses have shown growth and resilience.

Capcom’s latest earnings report highlights the company’s ability to navigate challenges and capitalize on opportunities in the ever-evolving video game industry. With a strong focus on digital sales and continued innovation in its business segments, Capcom is well-positioned for future growth.

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