Once-bankrupt Atari returns to profit with decade-high revenue
A strategy built on reviving old franchises and buying up studios pulled Atari back into profit.
Atari, the once-bankrupt video game developer that filed for bankruptcy protection just over a decade ago, has returned to profit with a decade-high revenue of €56 million (S$83 million) on Aug 3, according to Reuters. The Paris-based company attributes its resurgence to a strategy centered on reviving old franchises and acquiring studios, capitalizing on the broader industry shift towards mining back catalogues and nostalgia-driven franchises.
Atari's revenue growth has been impressive, with Games revenue rising 67.7% to €46.1 million and Hardware revenue increasing by 83% to €7.3 million. Current operating income has turned positive at €900,000, while net income excluding Thunderful reached €100,000, marking a stark contrast to the €12.6 million loss reported last year. Cash flow from operations stood at €11 million.
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