Embracer Group Q2 2022 results highlight acquisition strategy with 190% increase in net sales
Embracer's aggressive acquisition of studios in the video game space seems to have paid dividends in the previous quarter.
In a year full of prominent video game studio and company acquisitions, Embracer Group in particular has been on quite the shopping spree, and it seems to have paid off in its Q2 2022. The company put up its latest earnings results and in them the company revealed that its net sales had risen by 190 percent in comparison to Q2 2021. Embracer’s various studio pickups have had a lot to do with that increase.
Embracer Group shared its Q2 2022 earnings results on its investor relations website on November 17, 2022. It was in said report that Embracer shared the impressive stats on its net sales. The company put up a final number of 9,569 million SEK (around $900 million USD) in this metric. However, it’s worth noting that a lot of Embracer’s net sales increase can be attributed to the success of studios it acquired throughout and before the last quarter. The company’s organic sales growth was 35 percent.
There’s little doubt that Embracer Group has been scraping and snatching up a lot of major studios. Many will recall that earlier this year, Embracer went on a $576 million acquisition spree. This resulted in the group gaining ownership of Tripwire Interactive (Killing Floor 2), Limited Run Games, and Tuxedo Labs (Teardown). Also wild is that Embracer got a hold of the IP rights for J.R.R. Tolkien’s The Lord of the Rings and The Hobbit for use in video games, movies, and more.
Ultimately, Embracer spent money to make money and it showed in its Q2 2022 earnings results. As we continue to report on the fiscal quarterly ends of major tech and gaming companies, stay tuned for further earnings results.
TJ Denzer posted a new article, Embracer Group Q2 2022 results highlight acquisition strategy with 190% increase in net sales