[Special Stock] 'Earning Surprise' Innocean Hits 52-Week High for 2 Consecutive Days

Innocean has once again broken its 52-week intraday high.

As of 9:23 AM on the 3rd, Innocean is trading at 23,800 KRW, up 4.39% (1,000 KRW) from the previous day. Following the breakthrough of the previous 52-week high (23,025 KRW) after four months, it has set a new 52-week intraday high for two consecutive days.

Innocean reported a gross profit of 210 billion KRW and an operating profit of 30.5 billion KRW in the first quarter. This represents increases of 19% and 58%, respectively, compared to the same period in 2022. The operating profit was an 'earnings surprise,' exceeding market consensus (average forecast).

Jung Jisoo, a researcher at Meritz Securities, stated, "Following last year's acquisitions and establishments of Difplan360, Imaginus, Studio Orbit, and Innocean S, inorganic growth through M&A is expected to continue this year." He added, "Despite external uncertainties in the second half of the year, gradual improvement in the global advertising market is anticipated due to events such as the Paris Olympics and the U.S. presidential election." The annual performance forecast for this year is a gross profit of 903.5 billion KRW and an operating profit of 160.6 billion KRW, expected to increase by 6.3% and 7.4%, respectively, compared to last year.

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