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- Konami records another profitable Q1 with a 14% increase in revenue from last year.
- Its Digital Entertainment business largely led the company’s profits.
- It is expecting even better results with the launch of Metal Gear and Silent Hill f.
Konami is one of the biggest names in the gaming industry. Known for some of the world’s biggest franchises, the company continues to achieve great results in terms of revenue and profits. This year, it has once again generated great numbers.
According to Konami’s latest financial report, it achieved record Q1 profits for the second year in a row, this time even beating last year’s numbers. Its Digital Entertainment business essentially drives that.
Why it matters: Konami has already had a successful year so far based on the profits, but the company is expecting even better numbers considering they will be releasing Metal Gear Solid Snake Eater and Silent Hill f.
Based on the company’s Q1 earnings, it recorded highs for the first quarter for two consecutive fiscal years in total revenue, business profit, operating profit, and profit before income taxes, thanks to its digital sales.
The revenue increased by 14.2% year-on-year basis, while the business profit saw an increase of 17.0%. The digital sales that led the profits include titles like eFootball, eBaseball, and Konami’s slot machines.
The company is expecting an even bigger increase for the rest of the year as it has multiple esports tournaments planned with huge collaborations. Also, they will finally be releasing the Metal Gear remake, which is already a huge franchise.
Based on how well Silent Hill 2 Remake did, Konami is expecting Silent Hill f to follow suit. They have also already announced the original Silent Hill Remake, which has begun development. So, all in all, Konami seems to be on the right path.
What are your thoughts on Konami achieving record Q1 profits for a second year in a row? Let us know your opinions in the comments or join the discussion at the Tech4Gamers forum.
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News Reporter
Abdullah is an avid gamer who primarily plays single-player titles. If you can’t find him anywhere, he’ll probably be at his desk playing The Witcher 3 for the millionth time. When he isn’t playing games, he’s either reading or writing about them.
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