Riot Games announces a net profit of €434 million for fiscal year 2024.
One year following the large-scale layoffs, the European subsidiary of the League of Legends publisher has reported remarkably strong financial performance, issuing a record dividend of €603 million to its parent company.
In June 2024, Riot Games' 2023 financial statements and the economic significance of the LEC had already been the focus of an analysis that I published here. The 2024 accounts, made public, continue the narrative: that of a company which has addressed its past errors and is now benefiting from its financial rigor.
For context, Riot Games Ltd is the subsidiary that centralizes the publisher's non-American operations: sales, support, marketing, and localization for Europe, the Middle East, Asia, and Latin America.
Double-digit growth
The commercial engine shows no signs of slowing down. In 2024, revenue crossed the €1.85 billion mark, up 19% year-on-year. Net income followed suit at €434 million (+13%), while the net margin held nearly stable at 24%. To put it simply, every euro collected by Riot Games generates nearly 25 cents in profit.
The results underscore the publisher's robust commercial performance, fueled by virtual item sales across League of Legends, Valorant, and Wild Rift, along with IP royalties. But the real story of 2024 is found elsewhere, buried in the less conspicuous lines of the financial statements.
Wow, nice article let me check who did it .. dymey ? not surprise so