- Embracer's share price drops nearly 44% after $2bn strategic partnership deal falls through.
- Adjusted earnings before interest and tax for the 12 months to March 2024 expected to be SKr7bn to SKr9bn.
- CEO Lars Wingefors attributes challenges to game delays, weaker consumer demand, and lackluster reception for certain releases.
- Short interest from hedge funds due to light-touch approach to integrating recently acquired businesses.
- Transformative deal with Amazon to create a game from its Lord of The Rings IP.
Financial Times — Tech — Embracer's revenue forecast — European Companies — Technology Sector — Corporate Earnings And Results
Embracer’s shares plummet after $2bn partnership deal evaporates
Embracer's share price plummets after $2bn strategic partnership deal falls through, leading to slashed revenue forecast for 2024.