Sweden's Embracer Group saw a 47 per cent increase in net sales for the first quarter of its financial year.
That's according to the company's report for the three months ending June 2023, in which it reported that it brought in SEK 10.450 billion ($953 million) for the quarter.
Embracer's PC and console games division saw a massive 74 per cent increase in sales, clocking in at SEK 3.996 billion ($364 million), something that was driven by Plaion's Dead Island 2, which launched in April of this year. The company's mobile games arm saw a three per cent decrease in sales.
"In Q1, we achieved organic growth of 20 per cent and Adjusted EBIT of SEK 1.7 billion," CEO Lars Wingefors (pictured) said.
"In recent months, we have released two successful sequels, Dead Island 2 and Remnant II. We now have increased confidence regarding earnings this year and we are on track to deliver on the restructuring program announced on June 13, 2023, with a series of initial actions now taken. Even though it’s a challenging time for everyone impacted, I am confident we will emerge a stronger company."
This comes in the wake of a troubled few months for the Swedish games firm. In May it announced that a $2 billion partnership had fallen apart, resulting in Embracer having to cut jobs, projects and studios. That failed deal appears to have been with Saudi Arabia's Savvy Games Group.
Disclaimer: Alex Calvin is a freelance writer and journalist who has worked with Embracer's Plaion and Dark Horse divisions