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NCsoft Corp., one of South Korea's leading game makers, said Wednesday its first-quarter net profit shed 2.57 percent from a year earlier but managed to push up sales helped by popularity of its flagship Lineage games.
Net profit came to 35.6 billion won ($32.4 million) on a consolidated basis in the January-March period, compared with the 36.5 billion won a year earlier, the company said in a regulatory filing.
Sales moved up 5.59 percent on-year to reach 188.1 billion won in the first quarter, and operating profit edged up 0.78 percent to 44.8 billion won over the cited period.
The first-quarter net profit was far below the median estimate of 51.9 billion won in a poll conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency. Its first-quarter sales estimate was put at 196.9 billion won.
By region, South Korea accounted for 119.2 billion won of the sales, trailed by North America-Europe with 25.7 billion won, Taiwan with 10.1 billion won and Japan with 7.4 billion won. It also earned 25.6 billion won from royalties.
Its flagship Lineage 1, a role-playing online game, raked in 66 billion won in terms of sales, trailed by Lineage 2 with 11 billion won and Aion with 18.3 billion won.
The company said it plans to release more mobile and PC games in the second half of this year, which will lend support to its bottom line.
Shares of NCsoft surged 6.37 percent to 217,000 won on the Seoul bourse on Wednesday, while the KOSPI moved up 0.83 percent.
The first-quarter results were released before the opening of the stock market. (Yonhap)
Net profit came to 35.6 billion won ($32.4 million) on a consolidated basis in the January-March period, compared with the 36.5 billion won a year earlier, the company said in a regulatory filing.
Sales moved up 5.59 percent on-year to reach 188.1 billion won in the first quarter, and operating profit edged up 0.78 percent to 44.8 billion won over the cited period.
The first-quarter net profit was far below the median estimate of 51.9 billion won in a poll conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency. Its first-quarter sales estimate was put at 196.9 billion won.
By region, South Korea accounted for 119.2 billion won of the sales, trailed by North America-Europe with 25.7 billion won, Taiwan with 10.1 billion won and Japan with 7.4 billion won. It also earned 25.6 billion won from royalties.
Its flagship Lineage 1, a role-playing online game, raked in 66 billion won in terms of sales, trailed by Lineage 2 with 11 billion won and Aion with 18.3 billion won.
The company said it plans to release more mobile and PC games in the second half of this year, which will lend support to its bottom line.
Shares of NCsoft surged 6.37 percent to 217,000 won on the Seoul bourse on Wednesday, while the KOSPI moved up 0.83 percent.
The first-quarter results were released before the opening of the stock market. (Yonhap)
