Embracer beats Q4 profit and plans new spin-off
Embracer reported a Q4 profit of 360 million crowns, beating estimates. It will spin off Fellowship Entertainment. The firm also plans a share buyback.
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Embracer Group AB will spin off Fellowship Entertainment and reported a 360 million crown ($38.3 million) adjusted operating profit. The Swedish firm's profit beat analyst estimates of 263 million crowns for the fiscal fourth quarter. This second major restructuring in two years aims to unlock value through a 2027 Nasdaq Stockholm listing.
Embracer reported the results on Wednesday, May 20. The 360 million crown profit represents a 37% beat over the 263 million crowns expected by analysts polled by the company.
