Seoul: DoubleU Games Co. on Wednesday reported its second-quarter net profit of 33 billion won (US$23.8 million), marking a 48.6 percent decline from the same period last year. The notable decrease in net profit has raised concerns among investors and market analysts.
According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating income for the April-June period also experienced a downturn, decreasing by 19 percent year-on-year to 54.3 billion won. However, the company's sales showed a positive trajectory, with a 5.4 percent increase, reaching 171.9 billion won.
Despite the uptick in sales, the operating profit was 11.1 percent lower than the average estimate, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. The report did not include an estimate of the net profit, adding to the uncertainties surrounding the company's financial performance.