Nov 16 (Reuters) - Swedish games developer Embracer (EMBRACb.ST) topped second-quarter operating profit expectations on Thursday, aided by its restructuring efforts, sending its shares up more than 11%.
The group, which owns the rights to the Tomb Raider and Lord of the Rings games, reported a 14% drop in adjusted operating profit to 1.8 billion Swedish crowns ($170.2 million) in the quarter through September, but beat analysts' forecast of 1.62 billion crowns.
The decline was mainly due to a lower contribution from PC and console games, it said.
It announced major restructuring plans in June, after a $2 billion partnership deal with an undisclosed company fell through in May.
Embracer's shares have lost nearly a half of their value since it warned on profit in May.
Persons:
Embracer, Hans, Marius Ludvigsen, Lars Wingefors, Wingefors, Jesus Calero, Milla Nissi, Sharon Singleton, David Evans
Organizations:
The Entertainment, Services, Reuters, Thomson
Locations:
Swedish, Embracer, U.S, Gdansk