Earnings Roundup


Sony reported sales in its Games & Network Services (G&NS) segment for the three months ended December 31, 2023, of JPY 1.44 trillion ($9.55 billion), up 15.87% YoY, with an operating income of JPY 86.1 billion ($571.5 million), down 25.9% YoY. Sales for G&NS for Q1-3 (April 2023 – December 31 2023) were JPY 3.17 trillion ($21.04 billion), up 23% YoY, with operating income of JPY 184.2 billion ($1.22 billion), down 12% YoY. The PlayStation 5 sold 8.2 million units in Q3, up from 7.1 the previous year, bringing it to 16.4 million units sold in the 2023/4 fiscal year. Sony has revised down its estimated PlayStation 5 sales target for the FY from 25 million units to 21 million as a result of this.

Gravity has broken its annual performance record for the eighth consecutive year, with consolidated revenue of KRW 726 billion ($543.6 million) and operating profit of KRW 160 billion ($119.8 million) for FY 2023. These figures represent a 56.6% and 52.8% increase over the previous year, respectively. The boost in performance is largely attributed to the success of the mobile MMORPG Ragnarok Origin in the Southeast Asian market. For 2024, Gravity plans to further expand the Ragnarok IP globally, including launching Ragnarok Origin in North, Central, and South America, and entering the Chinese market.

Pearl Abyss reported a shift to an operating loss of KRW 16.4 billion ($12.3 million) and a 13.5% decrease in sales to KRW 333.5 billion ($249.7 million) in FY 2023, attributed to delays in new game releases. However, with the anticipated issuance of a version number in China for Black Desert Online and ongoing development of Crimson Desert, the company is poised for mid-to-long-term performance recovery.

Com2uS Holdings announced its annual financial results for 2023, with revenue reaching KRW 142.3 billion ($106.6 million), an operating loss of KRW 14 billion ($10.5 million), and a net loss of KRW 16.5 billion ($12.4 million). For 2024, Com2uS Holdings aims to improve profitability through the success of Soul Strike! Idle RPG and the global launch of Zenonia, alongside targeting Japan’s Web3 market with its blockchain gaming initiatives.

Neowiz reported impressive financial results last year, driven by the successful performance of Lies of P. The company saw a 24.1% increase in revenue to KRW 365.6 billion ($273.8 million), a 62.2% rise in operating profit to KRW 31.7 billion ($23.7 million), and a remarkable 252% surge in net profit to KRW 46.5 billion ($34.8 million) on a consolidated basis.

AfreecaTV achieved its highest annual sales and operating profit since its inception in 2023, marking a record-setting year. The company reported an operating profit of KRW 90.3 billion ($67.6 million), up 9.6% from the previous year, with revenue and net profit increasing by 10.4% and 25.4% to KRW 347.6 billion ($260.3 million) and KRW 74.6 billion ($55.9 million), respectively for FY 2023. AfreecaTV is planning to launch a new global platform named SOOP by May and intends to rebrand its domestic service to SOOP in the third quarter.

Source: Nikopartners