Sega raises forecasts after strong H1

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Quote

Sega Sammy is reporting a solid first half to its financial year, driven by its pachinko and pachislot business.

Net sales for the six months ended September 30, 2023 rose 47.3% year-on-year to ¥221.2 billion ($1.5 billion) while operating income increased by a whopping 313.4% to ¥39.6 billion ($262.5 million).

That's in the face of weaker-than-expected sales from some of its new game releases and losses from its ongoing structural reform.

As a result, the company raised its forecasts for the current fiscal year, now expecting net sales of ¥474 billion ($3.1 billion), operating income of ¥60 billion ($397.7 million), and ¥63 billion ($417.6 million).

Here's what you need to know:

The numbers

Net sales: ¥221.2 billion ($1.5 billion, up 47.3% year-on-year)

Operating income: ¥39.6 billion ($262.5 million, up 313.4%)

Ordinary income: ¥23.1 billion ($153.1 million, up 242%)

Source: Games Industry biz

So Is this good news for Sega In those sales or Is It they weren't expecting these sales results?