NCSOFT exceeded market expectations with its Q2 (April-June) earnings this year, and its stock price is rising.
NCSOFT stocks were traded at 216,000 won on the KOSPI market at 9:28 a.m. on the 12th. The stock price rose by 6.67% (13,500 won) from the previous day. The stock price briefly jumped to 229,000 won in early trading.
NCSOFT announced that it recorded Q2 sales of 382.4 billion won and an operating profit of 15.1 billion won as a preliminary estimate. Sales were 9% higher and operating profit was 165% higher than market expectations.
However, NCSOFT reported a net loss of 35.4 billion won for the second quarter, falling below market expectations (24.3 billion won).
The market is paying attention to whether NCSOFT's multiplayer online role-playing game (MMORPG) "Aion 2," set to be released at the end of this year, will be a hit. Aion 2 is the official sequel to "Aion," which was released in 2008, and it's a highly anticipated title that returns after 17 years.
Securities firms have raised their expectations for NCSOFT. The average target price for NCSOFT set by 10 securities firms that recently issued investment opinions is 273,000 won. Kiwoom Securities has the highest target price at 390,000 won, while Hanwha, Eugene Investment, SK, KB, and Hyundai Motor Securities have set their targets at 250,000 won.