Eugene Securities forecasted that Netmarble will see surprise results in the second quarter as the new releases in the first half have exceeded expectations in popularity. There are also analyses suggesting that new titles set to be announced in the second half will continue this trend.
Netmarble's revenue for the second quarter of this year is projected to be 726.5 billion won, with an operating profit of 92.2 billion won. These figures represent a decrease of 7% and 17%, respectively, compared to the same period last year. However, the operating profit is expected to exceed market expectations (consensus) of 63.1 billion won.
Netmarble's new releases in the first half have been evaluated as performing well despite a sluggish market environment. 'RF Online Next,' launched in March, has maintained its rank at 5th in terms of revenue as of the 16th. 'Seven Knights Revolution,' released in May, achieved 1st place in revenue immediately after its launch but dropped to 2nd place in early June; however, it reclaimed the top spot due to new updates.
Jeong Ui-hun, a researcher at Eugene Securities, noted, 'It is expected that the popularity of the Seven Knights character will be maintained by releasing new ones at short intervals to defend against revenue decline,' adding, 'The existing Na Hon Lab and Raven 2 are also expected to see revenue increases due to update effects.'
In the second half, two new multi-user role-playing games (MMORPGs), Vampyr and Project SOL, are scheduled for release. Two new titles based on existing intellectual properties (IPs), Monster Taming and The Seven Deadly Sins, are also in preparation.
The researcher analyzed, 'In particular, the open-world-based 'The Seven Deadly Sins: Origin' is expected to attract attention from both existing fans and new users,' and 'The expansion of revenue proportions from proprietary IPs is also expected to improve the payout commission rate compared to the previous quarter.'