Epic Games CEO Tim Sweeney said that after several difficult years, the company has “rebuilt and performed well on all fronts” and has finally become “financially sound” again. This was reported by TweakTown.

In recent years, Epic Games has been involved in several lawsuits against Apple and Google, and recently announced a new lawsuit against Google and Samsung, accusing both companies of restricting competition.

These cases had a considerable financial impact on the company, which, among other things, laid off more than 800 employees last year and sold the music platform Bandcamp.

When announcing the layoffs in September 2023, Tim Sweeney said that the company was losing much more money than it was making, but the situation was finally starting to improve. During the Unreal Fest 2024 event, the company’s CEO said that things were going uphill.

“Last year’s Unreal Fest began with some sad news. The company had to get its finances in order, and we just had some major layoffs. We spent the last year rebuilding and also executing solidly on all fronts. “I’m happy to tell you now that the company is financially sound, and that Fortnite and the Epic Games Store have hit new records in concurrency and success. Fortnite hit 110 million monthly active users last holiday, and all-time peak,” Tim Sweeney said.

Almost half of Epic Games is owned by the Chinese company Tencent, which owns stakes in dozens of other game studios. In 2012, the Chinese tech giant invested $330 million and took over 40% of the company. Only Tim Sweeney himself has more shares. In 2018, Google even wanted to merge with Tencent to fully buy Epic Games, but the decision was never made.

By the way, it has recently become known that Epic reduces royalties for Unreal Engine games if they are released in the Epic Games Store.