Swedish gaming company Embracer Group reported higher fiscal first-quarter revenue, with a 47% increase compared to the same quarter in 2022. The company’s Entertainment & Services unit saw a notable contribution, growing by 70% organically, thanks to strong licensing revenue from The Lord of the Rings. Embracer’s earnings also improved, exceeding management expectations. In June, the company announced cost-cutting measures, including layoffs and studio closures, as part of a restructuring plan. Embracer aims to transform into a highly cash-flow generative business and is confident in its ability to emerge stronger.
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