Capcom said it has “outperformed” expectations during the quarter ended June 30, 2024, despite net sales and operating income tumbling year-over-year.
According to the publisher’s latest fiscal report, net sales decreased by 32.5 percent year-on-year to 29.5 billion yen ($190.5 million) and operating income fell by 46.4 percent to 12.8 billion yen ($82.6 million).
Ordinary income dropped by 47.9 percent year-over-year to 13.4 billion yen, and net income attributable to owners of the parent dipped by 45.1 percent to 9.9 billion yen.
Capcom says it’s still on track
Capcom said those numbers “outperformed” its plan for all business segments during the quarter, and noted it remains on track to achieve its full-year earnings forecast.
“During the three months ended June 30, 2024, sales in Capcom’s core Digital Contents business centered on releases of existing titles on additional platforms and catalog sales of major titles released in previous fiscal years because the launch timing of new titles will be concentrated in the second half of the current fiscal year,” reads the fiscal report.
“The resulting sales volumes were 9.53 million units, which made solid progress toward achieving the full-year target and was in-line with plans, though represented a decrease compared to the same period of the previous fiscal year when Street Fighter 6 was released.”
Over the quarter, Capcom also “strove to enhance the brand of its intellectual properties” by utilizing its IP across film and television projects, licensed merchandise, and esports projects.
The company is currently hoping to achieve net sales of 165 billion yen and operating income of 64 billion yen by the end of the current fiscal year on March 31, 2025.