Square Enix’s Q4 FY3/2024 Results and a Multiplatform Future

Square Enix did have the best year:

• Net sales reach ¥356b (up 4% vs last year)

• Operating income is down to ¥32.5b (-27%)

• Net profit is also down to ¥15b (-70%)

• 3-year Sales target off by ~20%

• Operating profit off by ~50%

The information I was most excited to see was not provided: sales numbers for Final Fantasy XVI and Final Fantasy VII Rebirth.

I find it difficult to conclude anything other than that both titles fell short of SE's intended projections. Square Enix will now “aggressively pursue a multiplatform strategy that includes Nintendo platforms, PlayStation, Xbox, and PCs"

It's clear that keeping AAA development exclusive to PlayStation is not working out for Square Enix. The PS5 simply doesn't have a large enough install base to support games like Final Fantasy XVI and Final Fantasy VII Rebirth. PC sales will definitely help SE. though. It's not that people do not want to play these games; they just need to be made more accessible to people.

I’d expect Final Fantasy VII Remake, XVI, and VII Rebirth to find new life on Switch 2/Next for example.

Shifting to a multiplatform strategy is the best course of action for Square Enix.