Netmarble has published their Q2 earnings, boasting over 500 million USD in sales between April 1st and June 30th of this year.
To be more specific, the South Korean game publisher announced the Netmarble overall Q2 earnings hit 516.5 million USD, with a net profit of 43.1 million USD. While total sales were up 1.2% compared to last quarter, it looks like net profits were down 22.1%.
Despite the drastic drop, Netmarble CEO Seungwon Lee said it wasn’t unsual, since the company was investing more into their products.
“Despite solid results from Ni no Kuni: Cross Worlds’ June launch in key Asian countries, the increase in initial marketing costs put a significant drag on second quarter profitability. However, we expect the return on this investment to be positively reflected in our performance for the third and fourth quarters of 2021.” he said.
“Looking toward the next quarter and second half, we’re optimistic the launch of MARVEL Future Revolution in 240 countries on August 25 will fortify Netmarble’s competitive edge in the global gaming market, while the recent acquisition of SpinX Games, one of the fastest-growing companies in social casino gaming, will also play an integral role in the expansion of Netmarble’s casual game lineup”, he continues.
“Additionally, we have a strong slate of upcoming global launches for the remainder of the year, such as Seven Knights 2 (excluding Korea, China, and Vietnam) and BTS Dream: TinyTAN House (excluding China)”, he finishes.
Essentially, what the CEO is saying is that the company was making a lot of expenditure in Q2, but would earn it back at the end of the year, putting a lot of hope in their widely-marketed Ni No Kuni Cross Worlds, as well as Marvel Future Revolution.
Additionally, the report also showed that Netmarble’s operations outside of South Korea were bearing fruit, as the company said that overseas sales accounted for 37.9 million USD in sales, a total of 74% for the company.