GREE Inc. reversed its earlier losses and posted higher profits in the second quarter, driven by successful gaming events and growing metaverse operations. The Tokyo-based company reported net income of 955 million yen ($6.4 million) for the six months ended December, up 33% from a year earlier.
Revenue fell 5% to 28.5 billion yen ($191 million), mainly due to the lack of new game releases. The company’s gaming division, which accounts for about two-thirds of total sales, saw revenue drop 14% as it focused on managing existing titles.
The metaverse segment showed promising growth, with sales rising 7.7% as the company expanded its REALITY smartphone platform globally. GREE’s investment unit emerged from losses, posting a 226 million yen profit after successful exits from venture capital investments.
The company withheld its full-year guidance, citing volatile market conditions and unpredictable investment outcomes. GREE continues to invest in virtual YouTuber operations while working to stabilize earnings through long-term game management and international expansion.
