Neowiz 3Q Operating Profit 16 Billion KRW... 182% Increase YoY
[Asia Economy Reporter Buaeri] Neowiz announced on the 10th that its third-quarter sales reached 74.6 billion KRW and operating profit was 16 billion KRW.
This represents a growth of 23% and 182% respectively compared to the previous year.
The company explained that the strong third-quarter performance reflects the results of games secured through expanded overseas expansion, investments, and new partnerships.
Looking at sales by segment, domestic sales increased by 49% year-on-year to 49.2 billion KRW. Stable web board game sales combined with the launch effects of mobile games 'Gitaso-nyeo' and 'Death Knight Raising' contributed to the performance increase.
Overseas sales recorded 25.3 billion KRW. Although it decreased by 9% compared to the same period last year due to the suspension of the service of 'Black Desert' by the Japanese subsidiary GameOn, performance improvement is expected with the successful market entry of the new title 'Lost Ark'. 'Lost Ark' ranked first in the popularity ranking of online games in Japan just two weeks after its public service launch. Neowiz explained, "'Lost Ark' is one of the titles that recorded the highest sales performance in the early launch stage among the games serviced by GameOn, and it is expected to establish itself as a major revenue source in the future."
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Neowiz plans to continue its growth trend in the fourth quarter through new releases and active investment in major intellectual properties (IPs). First, 'Gitaso-nyeo' achieved 1 million pre-registrations and started global service on the 9th, and the massively multiplayer online role-playing game (MMORPG) 'Bless Unleashed PC' conducted its first test on Steam on the 5th, accelerating final development. In addition, the company plans to diversify its revenue structure and achieve solid growth by continuously discovering games with potential and competitiveness such as 'Blade Assault' and 'Dandy Ace'.
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