Square Enix net income projections up 148 per cent

Square Enix net income projections up 148 per cent
Craig Chapple

By Craig Chapple

November 2nd 2011 at 1:17PM

Revisions made after success of its game, web, smartphone and social network markets

Square Enix holdings has doubled its net income projections from $19 million to $47 million after revising its financial forecasts, the company has announced.

The group also changed its predicted net sales for the six months ending September 30th, which went up 1.8 per cent to $730 million, whilst forecasts for operating income grew from $44 million to $93 million.

Square Enix put the revisions down to the success of Deus Ex: Human Revolution as well as increased revenue from areas including web, smartphones and social networking services.

The group said however that amid a continued rapidly changing operating environment, forecasts for the full fiscal year ending 31st remain unchanged from the previous announcement.

The company also revealed that due to the rapid appreciation of the Japanese yen during the three-month period ending 30th September, total foreign exchange loss for the six-months grew to approximately $27 million.