Embracer Group AB (publ) (TH9.F)
- Reuters
Tomb Raider owner Embracer's CFO to step down as Q4 sales miss forecast
(Reuters) -Swedish games developer Embracer said its finance chief would step down due to personal reasons, after the Tomb Raider franchise owner's fourth-quarter sales missed market expectations on Thursday. Embracer, like other gaming groups, benefited from growing demand for video games during COVID-related lockdowns, but has since been hit by development delays, falling demand and poor reception for some of its titles. Chief Financial Officer Johan Ekström will be replaced by deputy CFO Müge Bouillon on Sept. 1, but will remain with Embracer until March 31, 2025, the group said in a statement.
- Yahoo Finance Video
Meta opens up Quest operating system, Embracer Group to split
Mark Zuckerberg, CEO of Meta (META), took to Instagram on Monday to reveal the details of "Meta Horizon OS." Zuckerberg announced that the software platform designed to power the company's Quest virtual reality headset lineup will now be open for software developers to build applications and other hardware tailored for the operating system. Yahoo Finance's Dan Howley breaks down the details of Meta's announcement. He also provides insights into Embracer Group (EMBRAC-B.ST) splitting into three companies. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This post was written by Angel Smith
- Reuters
Swedish gaming group Embracer to split into three listed companies
STOCKHOLM (Reuters) -Swedish gaming group Embracer plans to split into three separate listed companies, and has secured new financing to cut debt, the owner of the Tomb Raider franchise said on Monday, boosting its shares. Hit by development delays, weak demand, bad reception for some new games, and the collapse last year of a planned strategic partnership, Embracer's share price has fallen some 80% from its 2021 peak. Embracer, which in February warned it may miss its debt reduction target, said the three new companies would be called Asmodee Group, Coffee Stain & Friends, and Middle-earth Enterprises & Friends.
