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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.
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