Streetbeat News

THQQF

Embracer Group AB

https://embracer.com/

CEO

Lars Wingefors

Industry

Software Publishers

Open

2.90

Mkt cap

3.7B

Volume

450

High

2.90

P/E Ratio

-1.56

52-wk high

2.92

Low

2.77

Div yield

N/A

52-wk low

1.44

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.

Portfolio Pulse from Franca Quarneti

August 15, 2024 | 6:01 pm

FromSoftware president Hidetaka Miyazaki has vowed to protect his studio from the ongoing layoffs in the gaming industry, despite mass layoffs at companies like Microsoft, Sony, and Embracer Group. Miyazaki expressed confidence that the parent company, Kadokawa Corporation, shares his views on avoiding layoffs.

Portfolio Pulse from Franca Quarneti

June 18, 2024 | 6:24 pm

Embracer Group AB (OTC:THQQF) has shut down Pieces Interactive, the developer behind Alone in the Dark, due to the game's poor performance. This closure is part of Embracer's broader restructuring efforts, which have also seen the shutdown of other studios and the sale of assets like Gearbox Software.

Portfolio Pulse from Franca Quarneti

June 17, 2024 | 7:17 pm

Embracer Group AB has canceled a Deus Ex game in development and laid off 97 staff at Eidos Montreal. The studio will shift focus to an original franchise. This is part of a larger restructuring at Embracer, which has also affected other studios such as Volition and Free Radical Design. The layoffs and cancellations follow a failed $2 billion deal with Savvy Games Group. Embracer acquired Eidos Montreal from Square Enix Holdings in 2022 but has not commented on the Deus Ex cancellation.

Portfolio Pulse from Franca Quarneti

January 30, 2024 | 4:43 pm

Shawn Layden, former CEO of Sony's Sony Computer Entertainment America, has expressed concerns about the video game industry, highlighting issues such as consolidation, game preservation, and the financial challenges of blockbuster development. He criticized the industry's reliance on expensive blockbusters and advocated for a strategy of 'de-risking' by focusing on sequels and established franchises. Layden also voiced concerns about the recent wave of studio acquisitions by companies like Sony, Microsoft, Embracer Group, and Take-Two Interactive Software, arguing that consolidation could diminish creative diversity.

Portfolio Pulse from Franca Quarneti

October 24, 2023 | 8:03 pm

Trailers and promotional materials for the 'Star Wars: Knights of the Old Republic' remake have been removed from the internet, sparking concerns about the project's future. Sony Group Corp. (NYSE:SONY) attributed the removal to music licensing issues. The game, initially developed by Aspyr, failed to impress Lucasfilm (NYSE:DIS) and Sony, leading to a pause in development and a shift to Saber Interactive, a subsidiary of Embracer Group AB (OTC:THQQF). The release date remains uncertain, with potential delays until 2025.

Portfolio Pulse from Franca Quarneti

September 29, 2023 | 9:22 pm

Embracer Group AB's stock dropped due to a collapsed $2 billion deal with Savvy Games Group, a subsidiary of the Saudi Arabian Public Investment Fund (PIF). The reasons for the withdrawal remain uncertain. Embracer is set to unveil its recent quarterly earnings, potentially outlining cost-cutting measures. The PIF has emerged as a major stakeholder in numerous gaming enterprises, such as Nintendo, Take-Two Interactive Software, and Electronic Arts.

Portfolio Pulse from Franca Quarneti

August 15, 2023 | 9:51 pm

Embracer Group plans to leverage the 'Lord of the Rings' franchise to create a significant gaming presence, amid restructuring and layoffs. The company will close multiple studios and cancel several games, following a failed $2 billion deal. Embracer Group also holds the rights to the 'Tomb Raider' franchise.

Portfolio Pulse from Franca Quarneti

June 15, 2023 | 8:21 pm

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