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Update: Devolver Digital stock loses 45% of its value on disappointing earnings report due to lower-than-expected sales of Shadow Warrior 3, Evil West


Brian

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  • 5 months later...
  • Commissar SFLUFAN changed the title to Update: Devolver Digital goes public at a $950 million market value - Sony acquires 5%, NetEase acquires 8%
  • 7 months later...
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UKINVESTORMAGAZINE.CO.UK

US-based video game publisher Devolver Digital Inc (LON: DEVO) has severely disappointed investors little more than seven months after joining AIM. The shares were already below their initial placing price of 157p at 136.5p and they have fallen a further 50p to 86.5p on the news that it has lowered its guidance on revenues to […]

 

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US-based video game publisher Devolver Digital Inc (LON: DEVO) has severely disappointed investors little more than seven months after joining AIM. The shares were already below their initial placing price of 157p at 136.5p and they have fallen a further 50p to 86.5p on the news that it has lowered its guidance on revenues to between $130m and $140m.

 

Sales of new releases, such as Shadow Warrior 3 and Weird West, have been lower than anticipated. It appears that other games were more popular with new Devolver Digital games getting lower Metacritic ratings and reviews than the ones they released in 2021. Corporate costs were also higher than expected.

 

 

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  • Commissar SFLUFAN changed the title to Update: Devolver Digital stock loses 45% of its value on disappointing earnings report due to lower-than-expected sales of Shadow Warrior 3, Evil West

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