NCSOFT Q1 net income down 32.2% to $86.2 mil.
This Feb. 15, 2022 file photo shows the headquarters of NCSOFT in Pangyo Techno Valley, Gyeonggi Province. Courtesy of NCSOFT
NCSOFT Corp. on Wednesday reported its first-quarter net income of 114.2 billion won ($86.2 million), down 32.2 percent from a year earlier.
Operating income for the January-March period was 81.6 billion won, down 66.6 percent from a year ago, the company said in a regulatory filing. Revenue fell 39.4 percent to 478.8 billion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 32.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)