Business & Finance
Koei Tecmo Shares Fall as Earnings Miss, Long-Term Doubts Grow
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Koei Tecmo Shares Fall as Earnings Miss, Long-Term Doubts Grow Shares of Koei Tecmo Holdings Co. fell the most since March after the video-game publisher reported first-quarter operating profit that missed market expectations, underscoring weak software sales and fueling investor concerns about its long-term growth prospects. The shares dropped as much as 6.8% on Tuesday, their steepest decline since March, after it reported operating profit of ¥5.41 billion ($33 million) for the quarter...
Koei Tecmo Shares Fall as Earnings Miss, Long-Term Doubts Grow
Shares of Koei Tecmo Holdings Co. fell the most since March after the video-game publisher reported first-quarter operating profit that missed market expectations, underscoring weak software sales and fueling investor concerns about its long-term growth prospects.
The shares dropped as much as 6.8% on Tuesday, their steepest decline since March, after it reported operating profit of ¥5.41 billion ($33 million) for the quarter ended June. That was below the Bloomberg consensus estimate of ¥6.58 billion.