Sales of Final Fantasy XVI, FF VII Rebirth and Foamstars were below Square Enix’s expectations.

Takashi Kiryu, president of Square Enix, indicated in a quarterly results presentation that three of its latest releases sold below internal expectations, according to Bloomberg journalist Takashi Mochizuki.

In the presentation, he noted that sales of Final Fantasy XVI met the company’s expectations, but did not follow the expected path. The latest sales update was 3 million and was offered shortly after launch.

They believe that the sales target for the first 18 months will be achieved; Although no details have been revealed regarding this, the announced PC version is expected to release during this period.

On the other hand, Final Fantasy VII Rebirth, published last February, didn’t have the initial push it expected. While they don’t consider sales to be poor, they chose not to reveal the exact number of copies sold just yet. The same description is offered for the Foamstars multiplayer result.

These three games were exclusive to PlayStation consoles; Just yesterday, Kiryu indicated in its fiscal year earnings report that Square Enix intends to place more bets on multi-platform games.

In addition, the company reorganized its studios into five console departments and one mobile department. In the future, they will seek “a better balance between individual creativity and organizational discipline.”

Investors have taken Square Enix’s results very negatively: as of this writing, the stock market is down 16%. According to Mochizuki, the main reason is that the company will not have any major launches in the next two years.

Over the past few hours, Square Enix has begun a series of layoffs at its offices in Europe and North America.

Square Enix has a history of games that didn’t live up to its internal goals in the past, with games like Marvel’s Guardians of the Galaxy, Tomb Raider, or Forspoken having similar titles; The founder of Eidos Montreal sharply criticized Square Enix for its habit of announcing in quarterly reports that games (especially Western ones) did not live up to expectations.