Capcom ADR (OTC:CCOEY) announced a revised full-year consolidated earnings forecast, anticipating a boost from Dragon's Dogma 2 and Street Fighter 6.
For the fiscal year ending March 31, the company raised the net income forecast from ¥40 million ($300,000) to ¥43.3 million ($320,000). The dividend forecast stands at ¥70 ($525) per share for the same period, according to the company's press release.
While acknowledging growing profits from catalog titles, Capcom highlighted Dragon's Dogma 2's favorable performance despite a turbulent launch due to microtransaction controversies.
Despite initial backlash, the game sold 2.2 million units by early April 2024, demonstrating effective sales.
Additional details on the earnings forecast revision may surface at the 45th Ordinary General Meeting of Shareholders in June 2024.
Moreover, Capcom's decision to increase the starting salary for new graduate hires in Fiscal Year 2025 indicates optimism and a willingness to invest in new talent.
Both current and new employees in fiscal year 2024 can expect one special payment, further showcasing Capcom's positive outlook.
Price Action: Capcom is currently trading at $8.34, up 1.83% over the past 24 hours, according to Benzinga Pro.
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