Square Enix shares fall after poor results, layoffs and change in strategy

square enix is going through one of the most uncertain times in its recent history. While the structural changes he revealed a few weeks ago weren’t enough to discourage investors, recent financial results, layoffs and more bad news have caused his stock value to plummet.

This week square enix He reported that Final Fantasy XVI, Final Fantasy VII Rebirth and Foamstars did not meet their expectations and that their operating profits also fell 70% last fiscal year.

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Actions of square enix suffered a spectacular fall

After these results, square enix announced not only a restructuring, but also cancellations and changes in its release strategy to boost its income. However, the president of the company, Takashi Kiryuwarned that it would take years for the new strategy to bear fruit.

Although investors were optimistic after the announcement of restructuring and even cancellation of games, not so much because of the layoffs and restructuring, because the day after the report the company’s shares fell 16%the biggest fall that has been seen in its past 13 yearsas pointed out Bloomberg.

In case you missed it: Square Enix canceled projects and lost a million.

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