Embracer shares fall as Entertainment & Services segment drags Q2 results

Embracer AB

15/08/2024 08:17

** Shares in Embracer shares fall 10%, after the Swedish
gaming group posts its Q2 print, dragged by its Entertainment &
Services segment
    **  "Out of the mix, PC and console performed well, but the
volatile Entertainment and Services segment dragged results,"
Jefferies says in a note 
    ** "Mobile Games was -5% behind, revenue for Tabletop Games
was -5% behind, whilst the smaller segment Entertainment &
Services was -38% behind consensus," it adds
    ** Redeye analysts also suggest the delay of the company's
Kingdom Come: Deliverance II from Q3 to Q4 could imply that
revenue from the game will be lower this year
    ** "As such, we expect to slightly trim our 2024/25E EBIT,"
say the analysts in a note 
    ** Embracer's shares have lost around 80% of their value
from their 2021 peak
    ** Including today's fall the stock has dropped by 20.12 %
YTD
    

 (Reporting by Jesus Calero and Tilla Sjaavaag)
 ((Jesus.calero@thomsonreuters.com))