Embracer Group net profit for the year 2022 increased by 128% compared to 2021. This can be stated based on the company’s Q3 2022 report.
A side note: Apex Legends Mobile has lost 96% of revenue in eight months
The Embracer Group showed significant sales growth for its PC and console products, which was up 64% from the same period in 2021, with a total turnover of SEK 3.5 billion. The figure for mobile games was just 2% higher at SEK 1.5 billion for the third quarter of 2022. Goat Simulator 3 was the most profitable of all projects.
On a year-over-year basis, the comparisons were tough, and the segment saw some headwind from lower ad prices, impacted by Apple’s changes related to IDFA, lower player engagement post-covid and macroeconomic factors.Lars Vingefors, CEO of Embracer Group
Due to this successful performance, the company’s shares also rose by 0.1 SEK and currently stand at 1.39 SEK per share.