NCSOFT Q2 net income down 74.3% to $23.2 mil.

People pass by NCSOFT's office in Seoul in this undated file photo. Yonhap

NCSOFT, a major Korean online and mobile game developer, said Wednesday its second-quarter net profit tumbled nearly 75 percent from a year earlier due to sluggish sales of its flagship mobile titles.

The company logged a net profit of 30.5 billion won ($23.2 million) on a consolidated basis in the April-June period, down 74.3 percent from a net profit of 118.7 billion won a year ago, the company said in a regulatory filing.

Its operating income also fell 71.3 percent on-year to 35.3 billion won and sales decreased 30 percent to 440.2 billion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 38.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Its mobile business earned 296.9 billion won in sales for the three-month period through June, plunging from the previous year's 475.2 billion won.

Quarterly revenue from PC games amounted to 88.2 billion won, slightly down from 95.9 billion won a year ago.

In particular, NCSOFT's major game title, Lineage W (2021), a multiplayer online role-playing game, posted 102.8 billion won in sales, down 54 percent from a year earlier.

Sales of the steady-selling mobile version, Lineage M (2017), declined 9.5 percent on-year to 127.8 billion won.

By market, sales in Korea reached 285.1 billion won, accounting for 64.8 percent of the company's overall sales, followed by Asia with 87.4 billion won, and North America and Europe combined with 31.4 billion won. (Yonhap)