Genshin Impact developer miHoYo generated more profit in 2022 than Activision Blizzard, EA, and Embracer
Genshin Impact developer miHoYo generated more profit in 2022 than Activision Blizzard, EA, and Embracer
miHoYo is a private company, so it doesn’t have to release financial statements. However, Chinese media recently disclosed some information about the Genshin Impact developer’s revenue and profit.
Here is how these figures compare with the financial results of some major Western game publishers and developers (revenues and profits are taken from their latest annual reports):
Activision Blizzard (FY22 ended December 31, 2022) — net revenue of $7.52 billion / net income of $1.51 billion;
Electronic Arts (FY23 ended March 31, 2023) — net revenue of $7.42 billion / net income of $802 million;
Embracer Group (FY22/23 ended March 31, 2023) — net sales of $3.52 billion / net profit of $417 million;
Take-Two (FY23 ended March 31, 2023) — net revenue of $5.35 billion / net loss of $1.12 billion;
Ubisoft (FY22-23 ended March 31, 2023) — revenue of $1.95 billion / net loss of $532.2 million.
Taking this data into account, miHoYo’s annual profit for 2022 was higher than any of the companies mentioned above. However, it is worth noting that Take-Two, Activision Blizzard, and EA recorded higher revenues.
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Ubisoft and Take Two are operating at a loss or is this tax evasion shenanigans?