[Special Stock] Pearl Abyss Falls Over 2% Amid Q2 'Turn to Deficit' Poor Earnings
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[Asia Economy Reporter Myung-hwan Lee] Pearl Abyss is showing weakness in the market on the morning of the 11th due to its second-quarter performance this year falling short of market expectations.
As of 9:35 a.m. on the day, Pearl Abyss is trading at 58,900 KRW, down 2.81% (1,700 KRW) from the previous trading day.
Pearl Abyss announced on the 11th that it recorded an operating loss of 4.2 billion KRW in the second quarter of this year, turning to a deficit. During the same period, sales increased by 6% year-on-year to 94 billion KRW. Net profit was 32 billion KRW.
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The company explained that despite the increase in sales in the second quarter, it recorded an operating loss due to factors such as employee bonuses. Pearl Abyss's labor costs in the second quarter of this year rose 10.4% year-on-year to 50.6 billion KRW, accounting for 51.5% of total operating expenses. Commission fees and advertising expenses increased by 21.8% and 11% to 21.4 billion KRW and 10.8 billion KRW, respectively.
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