Square Enix Warns of "extraordinary losses" in Revised Financial Report
It's been a rough eight months for Square Enix. After a rough launch of their MMORPG Final Fantasy XIV (FFXIV), the developer was met with less than thrilling reviews and a very angry player-base. So many issues plagued the game that the leadership team was mostly replaced and subscriptions charges were put on hold while major revisions were made to the game. To make matters worse, the disaster that ravaged Japan earlier this year shut down services for their two MMORPGs.
Things just keep getting worse for Square Enix as a recent revision to the company's financial forecast warns of "extraordinary losses", noting that the firm anticipates a ¥16.0 billion net loss for the financial year ending in March. Profit expectations were cut by more than 90% in a December report, but this revision takes the forecast into the red. This can partially be blamed on the Japan disaster, a revision of Square titles and the under-performance of their MMORPG FFXIV over the last fiscal year.
Check out the latest financial revision for all the details.