Embracer Group, the video game giant based in Sweden, has reported robust quarterly results, showing a 50% increase in sales during a period marked by layoffs and division closures. These figures, reported by Deadline, come after Embracer’s announcement of a restructure and the acquisition of Lord of the Rings’ intellectual property owner, Middle-earth Enterprises, for nearly $400 million.
According to Embracer, its Entertainment & Services segment experienced a 70% organic growth for the quarter ending on July 1. Middle-earth Enterprises contributed significantly to this achievement through strong licensing revenue for The Lord of the Rings.