(LEAD) Netmarble-Q1 earnings
SEOUL, May 11 (Yonhap) -- Netmarble Corp., a major South Korean game developer and publisher, said Thursday it remained in the red in the first quarter from a year earlier due to sluggish sales.
The company said in a regulatory filing it logged a net loss of 45.8 billion won (US$34.6 million) on a consolidated basis in the first three months of 2023, slightly narrowing from a net deficit of 51.8 billion won a year ago.
Its operating loss expanded to 28.2 billion won for the cited period from a loss of 11.9 billion won a year earlier. Sales fell 4.6 percent on-year to 602.6 billion won from 631.5 billion won, with 84 percent of them coming from overseas.
The loss was 20.4 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Netmarble said its quarterly net loss is blamed on a lack of new blockbusters and sluggish sales of old games.
In the three-month period ending March, North America accounted for 48 percent of the quarterly sales, followed by South Korea with 16 percent and Europe with 13 percent.
The online slot machine game "Jackpot World" was the bestselling product for the quarter, accounting for 10 percent of Netmarble's quarterly sales, closely followed by "Marvel Contest of Champions," "Cash Frenzy Casino" and "Lotsa Slots" with 9 percent each.
The company said it will release 14 new titles in 2023, including "Solo Leveling:ARISE" and "Arthdal Chronicles."
brk@yna.co.kr
(END)