Seoul: NCSOFT Corp. has announced a 34.3 percent decrease in its first-quarter net income, totaling 37.5 billion won (US$26.4 million). The company revealed these figures in a regulatory filing on Wednesday.
According to Yonhap News Agency, NCSOFT's operating income for the period from January to March fell sharply by 79.7 percent to 5.2 billion won. Additionally, the company's revenue saw a decline of 9.5 percent, registering at 360.3 billion won.
The operating profit reported was significantly lower than expected, being 50.0 percent below the average estimate from a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, an estimate for the net profit was not provided.