Remedy Entertainment shares surge following Q2 results

Remedy Entertainment shares rose 9.3 percent on the Helsinki Stock Exchange following the release of its second-quarter financial results. While the company reported a 40 percent decrease in revenue to 10.2 million euros compared to the previous year, the market reacted positively to the figures.

The decline in revenue and the reported operating loss of 3.9 million euros were attributed to increased marketing investments for the upcoming title, ‘Control Resonant’. CEO Jean-Charles Gaudechon noted that the announcement of the game's release date, set for September 24, was a primary factor influencing the quarter's results.

Despite the current financial dip, the company expressed optimism regarding ‘Control Resonant’, noting that over 1.5 million users have added the game to their wishlists and pre-orders are progressing well. The title has already ranked among the top three most pre-ordered games on PlayStation in the United States, Germany, and Brazil. Remedy aims to double its 2024 revenue by 2027 and targets a 30 percent EBITDA margin next year.