Swedish games developer Embracer misses Q2 operating profit forecast (updated)

Embracer AB

14/11/2024 06:11

(Adds details from paragraph 2)
       Nov 14 (Reuters) - Swedish games developer Embracer
 EMBRACb.ST  on Thursday posted a bigger-than-expected drop in
second-quarter operating profit driven by game release delays in
a seasonally softer quarter.
    The owner of the Tomb Raider franchise said its adjusted
operating profit fell 33% to 1.2 billion Swedish crowns 
($109.18 million) in the quarter through September, missing
analysts' forecast of 1.8 billion crowns in a company-provided
consensus.
    "We now expect lower earnings this year due to the delay of
a number of notable H2 releases," CEO Lars Wingefors said in a
statement.

($1 = 10.9910 Swedish crowns)

 (Reporting by Jesus Calero; Editing by Mrigank Dhaniwala)
 ((jesus.calero@thomsonreuters.com))