Embracer (Tomb Raider developer) had a 50% Q1 operating profit drop due to releasing fewer games.

Embracer, the Swedish developer behind the Tomb Raider series, reported a 50% drop in Q1 operating profit due to releasing fewer games. Despite this, it anticipates games valued at 3.9 billion Swedish crowns ($372.70m) for the financial year. The company's Entertainment & Services segment sales fell 54% in April-June, partly due to development delays and poor reception for some new titles. Embracer plans to reorganize into three publicly traded entities by 2025.

August 15, 2024
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