Square Enix Boosts Profit Forecast

By Alastair Stevenson on November 2, 2011, 6:55PM EDT
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Following a strong quarterly financial performance Square Enix has more than doubled its yearly profit forecast.

In its new financial statement Square Enix confirmed that it has increased its profit predictions for the six months ending September 30, 2011, from 1.5 billion yen to 3.7 billion yen.Analysts have since cited the revision to strong sales of its popular Deus Ex: Human Revolution and significant growth in Square Enix in the smartphone, social and online markets.

The news marks a significant departure from the slew of bad quarters being reported by other Japanese gaming companies. Most poignantly, industry veteran Nintendo posted yet another disastrous quarter. The company's ongoing poor performance led to President Iwata once again having to apologise to investors.

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