Cover, the parent company of popular virtual idol company Hololive Production, announced today after the closing bell that it has revised its earnings forecast from 1.427 billion yen to 2.5 billion yen.
As you can see in Cover's latest public statement, the earnings forecast initially revealed was based on the company's revenues through September 2022 and a revised budget in October of that year, which exceeded their forecast at that time, but fell below the revised standard given the previous fiscal year's results and other factors that may have contributed to the low final results.
On the other hand, while continuing to raise awareness and recognition of its Vtuber and IP through daily events and various promotions, hololive's mega event "hololive SUPER EXPO 2023" received support from Bushiroad, and sales of event tickets, live concert tickets, and licensed accessories were even more enthusiastic than previously expected, and the results for March alone far exceeded the budgeted value.
As a result, overall sales were revised upward from 18.0 billion to 20.4 billion, operating income was expected to increase by 1.231 billion to 3.4 billion, and net income was revised from 1.427 billion yen to 2.5 billion yen.
Also their Talent Usada Pekora's event of PuyuPuyu Tetris 2 caused the stock to go crazy, and will wait and the official financial report in May will be interesting to see