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NCSOFT Q3 net jumps over 30% on strong sales of key game titles

Mobile game Lineage 2M (NCSOFT Corp.)
Mobile game Lineage 2M (NCSOFT Corp.)
NCSOFT Corp., a major South Korean online and mobile game developer, said Monday its third-quarter net income rose 34.3 percent from a year earlier thanks to the continued popularity of its major mobile games.

Net income stood at 152.5 billion won ($136.7 million) in the July-September period, compared with 113.6 billion won a year earlier, according to a regulatory filing.

Operating income spiked 68.9 percent on-year to 217.7 billion won, while sales rose 47.1 percent to 585.2 billion won over the cited period.

NCSOFT credited its performance boost in the quarter to growth in its major game titles, such as Lineage M, a mobile version of its major online PC game, and demand for its new mobile game Lineage 2M released in November last year.

The company's mobile game sales in the third quarter reached 389.6 billion won, up 87 percent from the previous year.

Sales from Lineage M rose 18 percent to 245.2 billion won over the cited period.

By region, NCSOFT's sales in North America and Europe stood at a total 27.4 billion won in the July-September period, rising 12 percent from a year earlier. But its sales in Japan declined 27 percent over the same period.

Shares in NCSOFT fell 0.99 percent to 800,000 won ($720), underperforming the broader KOSPI's 1.97 percent gain. The company reported its third quarter earnings before the session's open. (Yonhap)