Netmarble eyes $3 bn revenue with quarterly mobile game releases

2021.01.19 14:36:43 | 2021.01.19 15:43:44

[Photo provided by Netmarble Corp.]이미지 확대

[Photo provided by Netmarble Corp.]

South Korea’s leading game developer Netmarble Corp. is expected to achieve near $3 billion in revenue this year with new mobile game titles lined up quarterly in the pipeline.

Netmarble will likely generate 412.5 billion won ($374.5 million) in operating income and 3 trillion won in revenue for full 2021, projected IBK Securities in a report published on Tuesday. The company is estimated to record 85.6 billion won in operating income on revenue of 672.3 billion won for the fourth quarter ended in December 2020.

The brokerage house advised investors to buy Netmarble shares while maintaining its price target for the stock at 150,000 won apiece. Netmarble shares closed at 120,500 won in Seoul on Tuesday, unchanged from the previous session’s close.

“The company has new title releases at home and abroad for every quarter this year, suggesting that its revenue would expand every quarter,” said Lee Seung-hoon, an IBK Securities analyst.

[Photo provided by Netmarble Corp.]이미지 확대

[Photo provided by Netmarble Corp.]

The new mobile game titles scheduled for launch this year include “Seven Knights Revolution” and “Second Country: Cross Worlds”, in the first half, and “Marvel Future Revolution” in the latter half.

Seven Knights Revolution is a new mobile massively multiplayer online role-playing game (MMORPG) developed based on the company’s hit game Seven Knights. Second Country: Cross Worlds, also a mobile MMORPG, has been co-developed with Studio Ghibli, Japan’s top animation film studio. Marvel Future Revolution is the Korean game developer’s another Revolution series of superhero-themed Marvel mobile game that the company has created with license from Disney’s Marvel Entertainment.

By Pulse

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