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Square Enix Profits Plunge

Square-Enix has had to revise its fiscal year forecast ending March 2011 after they experienced a 90% plunge in projected profits. The company has experienced a devastating year that it largely attributes to the fact that "Final Fantasy XIV failed to live up to consumer expectations of a Final Fantasy title", along with “a slump in console sales and an exceedingly critical market reception to our main titles.” Here are the revised fourth quarter financial estimates:

Before: ¥160,000,000,000 ($1.9 billion)
After: ¥130,000,000,000 ($1.5 billion)

Net profit:
Before: ¥12,000,000,000 ($143 million)
After: ¥1,000,000,000 ($12 million)

They have also announced that they will be delaying the upcoming release of Deus Ex: Human Revolution and have pushed it to the next fiscal year, which may have factored to that expected drop of nearly 11 billion yen. Time will tell whether Square-Enix will get its act together and finally be able to deliver on Final Fantasy XIV, or if they should just consider it a wash and find another means of profit wrangling before they make another "final" Final Fantasy.

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