South Korean game publishers enjoyed a common boon from stay-at-home environment forced under virus pandemic, with mobile and global strength proving a winning strategy.

Netmarble Corp. and Pearl Abyss Corp. scored high in the second quarter ended June this year, thanks to their overseas fandom.

In a disclosure on Wednesday, Netmarble reported staggering gains in quarterly results with operating profit of 81.7 billion won ($69 million) for the April to June period on a consolidated basis surging 300.5 percent from the previous quarter and 146.1 percent from a year ago.

Revenue jumped 28.7 percent on quarter and 30.3 percent on year to 685.7 billion won, the second highest since the first quarter in 2017.

Shares of Netmarble ended Thursday at 149,500 won, unchanged from the previous session, in the Kospi market.

The gaming giant attributed the strong performance to the new releases during the period on the back of sound sales of titles it launched in the previous quarter.

Overseas sales totaled 514.4 billion won, accounting for 75 percent in the entire sales and up 4 percentage points from the previous three months. It took up the largest proportion on a quarterly basis as its titles released in the global market in March this year have been in great demand particularly in the North American and Japanese markets amid the COVID-19 lockdown.

Netmarble CEO Lee Seung-won admitted during the conference call that the COVID-19 is indeed benefitting the gaming industry.

The company is preparing a series of new releases in the second half both at home and abroad including Seven Knights 2, BTS Universe Story and Marvel Realm of Champions. Kwon Yeong-sik, its co-CEO, said he expected a continued sound performance in the latter half on the back of the new releases and the brisk sales of games it launched in the first quarter.

Another local game publisher Pearl Abyss Corp. disclosed on Thursday that its operating profit in the second quarter amounted to 50.6 billion won on a consolidated basis, up 9.4 percent from the previous three months. The figure declined 2.4 percent from a year-ago period but beat the market consensus of 37.3 billion won.

Revenue came at 131.7 billion won, down 8.4 percent on year. Operating profit margin reached 38 percent.

Shares of Pearl Abyss ended Thursday 5.65 percent higher at 198,300 won in the secondary Kosdaq bourse.

The company said that sales of flagship titles Black Desert and EVE Online increased in the global market in the second quarter. Overseas sales took up 78 percent.

“We kept close communications with users amid COVID-19 to stabilize sales and enhance profitability,” Pearl Abyss CFO Cho Seok-woo said. “We will maintain high profitability based on strong intellectual properties and focus on new pipelines.”

By Choi Mira

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]