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Netmarble Games profit misses consensus by 44.1% in Q3

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Netmarble Games profit misses consensus by 44.1% in Q3

Netmarble Games Corp. said its normalized net income for the third quarter amounted to 687.41 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,230.58 won per share.

EPS climbed 28.5% year over year from 534.79 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 58.86 billion won, an increase of 61.8% from 36.38 billion won in the prior-year period.

The normalized profit margin declined to 10.1% from 10.1% in the year-earlier period.

Total revenue increased 62.0% on an annual basis to 581.69 billion won from 359.02 billion won, and total operating expenses climbed 62.1% on an annual basis to 477.40 billion won from 294.60 billion won.

Reported net income rose 86.1% year over year to 74.32 billion won, or 868.00 won per share, from 39.93 billion won, or 587.00 won per share.

As of Nov. 14, US$1 was equivalent to 1,114.97 South Korean won.