April 19, 2024

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[THE INVESTOR] The success of “Lineage M” has propelled third-quarter earnings of NCSoft to a record high, said KB Investment and Securities on Nov. 10, maintaining a “buy” recommendation and raising the target price to 550,000 won (US$491.91) from 520,000 won.

Its revenue surged 234.3 percent on-year to 727.3 billion won and operating profit by 403.4 percent to 327.8 billion won. Revenue from the blockbuster mobile game more than offset the 155.5 billion won incentives that followed the hit, said analyst Lee Dong-ryun.

“Lineage M” will continue to boost its bottom line reaping 349.6 billion won from the domestic market alone in the fourth quarter, estimated the analyst. The game company’s total revenue in the period will leap 103.5 percent to 577.6 billion won and operating profit by 151.8 percent to 256.1 billion won, he added.

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