NCsoft Corp (XKRX:036570)
â‚© 191600 -10400 (-5.15%) Market Cap: 3.79 Til Enterprise Value: 2.69 Til PE Ratio: 32.50 PB Ratio: 1.30 GF Score: 87/100
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Q1 2024 NCSOFT Corp Earnings Call Transcript

May 10, 2024 / 12:00AM GMT
Release Date Price: â‚©204000 (+10.57%)
Jason Lee
NCSOFT Corp - VP and Head of IR

Good morning. This is Jason Lee, Head of IR at NCSOFT. Thank you for participating in NCSOFT earnings conference call for the first quarter of 2024. In today's conference, we are joined by our new CEO, Byungmoo Park; and CFO, Willie Hong.

We first review the financial performance of the first quarter of 2024, followed by insights into NCSOFT management strategies from CEO, Park and CFO, Hong. Now, let me begin with the financial highlights.

Q1 sales recorded KRW 397.9 billion, down by 9% Q-o-Q and 17% Y-o-Y and operating profit rose 568% Q-o-Q, but dropped 68% Y-o-Y, totaling KRW 25.7 billion. Pretax income posted KRW 78.4 billion, reflecting gains on the valuation of financial assets, driven by strong dollar. It represents a Q-o-Q transition to surplus and a 45% Y-o-Y decline. Net income was KRW 57.1 billion, up by 127% Q-o-Q and down by 50% Y-o-Y.

Next, let me discuss sales by game. Q1 Mobile Games sales recorded KRW 249.4 billion, down by 17% Q-o-Q. Sales declined across the 4 Mobile Games with significant drops in the sales of

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