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(2nd LD) NCsoft reports record-high performance in Q3

2017/11/09 15:09

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By Kim Han-joo

SEOUL, Nov. 9 (Yonhap) -- NCsoft Corp., South Korea's biggest online game publisher, reported record-breaking quarterly performance for the third quarter Thursday on the back of the global popularity of its mobile game "Lineage M."

   Operating income jumped 403 percent on-year to 327.8 billion won (US$294 million) in the July-September period, and sales soared 234 percent over the year to 727.3 billion won, the company said in a regulatory filing.

The third-quarter sales and operating profits represent record-breaking numbers for NCsoft. Net profit came to 275.1 billion won, up 474 percent from the previous year, the company said.

Accumulated sales for 2017 came to 1.22 trillion won, marking the first time the annual tally surpassed the 1 trillion won mark since the company's foundation in 1997.

The strong results for the third quarter were in part due to the performance of the company's mobile games business, including the continued popularity of Lineage M, the mobile version of its mega-hit game "Lineage."

   Revenues from the mobile game business came to 551 billion won for the third quarter, the company said, without releasing the revenues from Lineage M.

Accumulated revenues from Lineage M are forecast to have surpassed 600 billion won since its launch in June, market watchers said, with daily revenue estimated at 5.5 billion won. The game still is the highest grossing app in the Google Play Store.

Industry watchers forecast revenues from the mobile game could top 1 trillion won by the end of this year.

"The success of Lineage M is mainly due to users who enjoyed Lineage on the PC," said CFO Yoon Jae-soo, noting that the biggest markets for the mobile game are South Korea and Taiwan.

By region, sales came in at 631 billion won in South Korea, 32.3 billion won in North America, 10.4 billion won in Japan and 9.9 billion won in Taiwan.

Shares of NCsoft were trading at 427,000 won on the Seoul bourse as of 9:40 a.m., down 5.65 percent from a day earlier. The earnings were announced before the local market opened.