Square Enix's three most recent launches of major console titles — Sleeping Dogs, Hitman: Absolution and Tomb Raider — all sold at least a million copies, but missed the company's sales targets, it said today in a presentation to investors.
Each title received critical acclaim, but sales in North America and Europe — although by no means poor — did not meet the publisher's expectations for its 2013 fiscal year, which ends March 31. As a result, the company expects to report a $105 million loss for the year.
Square Enix launched Sleeping Dogs in August 2012 and has sold approximately 1.75 million copies of United Front Games' open-world crime thriller. Since Hitman: Absolution's release in November 2012, Square Enix has sold about 3.6 million units. And Tomb Raider, which launched three weeks ago, has already racked up approximately 3.4 million units in sales. (The numbers only take retail sales into account, not digital purchases.)
The company noted in its presentation that sales in North America were particularly weak — European sales outpaced North American sales by a two-to-one ratio. Square Enix also pointed out that "price pressure was strong," which forced the company to incur additional costs such as for price protection.