Embracer Group Reports 24% Sales Decline In Q1 2024
Portfolio Pulse from Franca Quarneti
Embracer Group AB (OTC:THQQF) reported a 24% decline in net sales for Q1 2024, amounting to $754 million. The company experienced a significant drop in PC and console gaming revenue, while tabletop games remained the largest revenue generator. Embracer plans to split into three publicly listed entities, with Asmodee expected to be listed on Nasdaq Stockholm by the end of the year.
August 15, 2024 | 6:01 pm
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Embracer Group AB reported a 24% decline in net sales for Q1 2024, with significant drops in PC and console gaming revenue. The company plans to split into three publicly listed entities, with Asmodee expected to be listed on Nasdaq Stockholm by the end of the year.
The significant decline in net sales and revenue from key segments like PC and console gaming is likely to negatively impact investor sentiment in the short term. However, the strategic plan to split into three publicly listed entities and the upcoming listing of Asmodee on Nasdaq Stockholm may provide some long-term optimism.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100