Capcom Increases Earnings Estimates On Mobile, Arcade Performance
Capcom has updated its public expectations for revenues and earnings in the first half of the fiscal year, citing stronger than expected performance for its Japanese arcades and mobile titles like Smurfs' Village
The company now expects revenues for the half year ending September 30 to be 28 billion yen ($365 million), up nearly 8 percent from previous estimates of 26 billion yen ($339 million). Projected net profits of 800 million yen ($10 million) for the period are 300 percent higher than previous projections of 200 million yen ($2.6 million).
Even with the increased guidance, performance for the fiscal half-year is still expected to be down from the same period in 2010, which saw revenues of 40.7 billion yen ($53 million) and net profits of 1.78 billion yen ($23 million).
In explaining the updated numbers, Capcom specifically cited strong performance for casual mobile title Smurfs' Village
, which is a constant presence on Apple's top-grossing iOS game lists
, and MMO Monster Hunter Frontier Online
, which topped Japanese sales charts
after its 2010 release on the Xbox 360.
The company also said its arcade operations have recovered well following March's Great East Japan Earthquake, with all locations now reopened and predicted electricity shortages being less severe than expected.
Capcom was reluctant to make any changes to its earnings forecasts for the full fiscal year, owing to what it called an "economic outlook [that] is becoming increasingly uncertain and market conditions [that] are changing rapidly."