April 24, 2024

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[THE INVESTOR] Netmarble Games will gain momentum again as it launches a series of new games worldwide, said NH Investment and Securities on Oct. 16, raising the target price to 190,000 won (US$168.59) from 1600,000 won.

Its third-quarter revenue will leap 64.1 percent on-year to 589.1 billion won and operating profit by 86.8 percent to 120.6 billion won, estimated the securities firm. 

“Lineage 2: Revolution” remains strong in Southeast Asia and Japan bolstering its revenue, but marketing costs and compensation for delayed wages dragged the operating profit below market consensus, said analyst An Jae-min.

Expectations are rising as the game developer plans to roll out new games in the next two months, noted the analyst. “Lineage 2: Revolution” has been a blockbuster hit, topping app store sales in Southeast Asia and Japan, said An. 

It is gearing up to tackle North America and Europe, and more than a million reservations has been made already, added the analyst. 

By Hwang You-mee (glamazon@heraldcorp.com)