Tomb Raider owner Embracer reports Q2 core earnings above estimates
Embracer Group’s computer games are seen in Karlstad, Sweden March 8, 2021. Picture taken March 8, 2021. REUTERS/Naina Helen Jama
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Nov 11 : Swedish gaming company Embracer on Wednesday posted second-quarter core earnings above analyst estimates, driven by higher sales and lower capital spending in its Embracer operating segment.
The Tomb Raider owner said its planned spin-off of game developer Fellowship Entertainment, set to complete in 2027, was progressing well.
• Embracer’s quarterly cash operating profit (EBIT) was 203 million Swedish crowns ($21 million) compared to 114 million crowns expected by analysts polled by the company
• The company maintained its cash EBIT expectations for its financial year 2026/27 of at least 1 billion crowns
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• Embracer said it expects cash EBIT in the third quarter broadly in line with last year
• It expects to release four titles in the two upcoming quarters, including “Metro 2039” and “Tomb Raider: Legacy of Atlantis” in February
($1 = 9.8681 Swedish crowns)
Source: Reuters
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