Netmarble has reported impressive financial results for the second quarter of 2024, achieving sales of 782.1 billion won ($583 million), marking a 29.6% increase year-on-year and a 33.6% rise quarter-on-quarter. This performance represents the company’s highest quarterly sales since its inception. The success is attributed to popular new releases such as “Only I Level Up: Arise” and “Raven 2.”
The company’s operating profit reached 111.2 billion won ($83 million), turning to a surplus compared to the previous year and skyrocketing 2,905.4% quarter-on-quarter. Net income also improved significantly, reaching 162.3 billion won ($121 million), marking a substantial turnaround from previous losses.
Netmarble’s cumulative sales for the first half of 2024 were 1.3675 trillion won ($1.02 billion), supported by an EBITDA of 193.8 billion won ($144 million). The company’s overseas sales in Q2 accounted for 76% of total sales, amounting to 590.6 billion won ($440 million). While domestic sales increased, the company’s diversified regional portfolio remains strong, with North America contributing 40%, Korea 24%, and Europe 13%.
CEO Kwon Young-sik highlighted the success of new releases and ongoing cost efficiencies as key factors in the company’s turnaround. Looking ahead, Netmarble plans to launch four new games in the second half of 2024, including “Seven Deadly Sins” and “King Arthur: Legend Rise,” aiming to enhance its global competitiveness in the gaming industry.
