As Pro Evolution Soccer loses ground to FIFA, Konami drastically cuts guidance for its fiscal year

Metal Gear Solid publisher Konami is not living up to its own expectations.

The Japanese company reported its financial results for the third quarter of its fiscal year. It revealed that it generated $7.4 million in operating income, which is down 50 percent year-over-year from $14.9 million. Likewise, Konami’s revenues were down from $160.2 million in Q3 fiscal 2013 to $155.9 million last quarter. This has led the publisher to revise its operating-income guidance for fiscal 2014, which ends March 31, down from $267 million to just $98.7 million.