SEOUL - Neowiz, a South Korean game publisher, announced a return to profitability in the fourth quarter, attributing the success to strong sales from its newest game releases.
According to Yonhap News Agency, Neowiz recorded a net profit of 2.8 billion won (approximately US$2.1 million) for the quarter, marking a significant turnaround from a net loss of 28.1 billion won in the same period the previous year. The company also reported an operating profit of 15.1 billion won, compared to an operating loss of 2.8 billion won year-over-year. Sales during the quarter surged 50.5% to 109.4 billion won.
For the entire year of 2023, Neowiz achieved a net profit of 46.5 billion won, up 252% from the previous year. The annual operating profit increased by 62.2% to 31.7 billion won, with yearly sales growing by 24.1% to 365.6 billion won. The company credited the performance boost to the popularity of its latest game titles, including "Lies of P" and "Brown Dust ?", which led sales in the personal computer, console, and mobile divisions. Neowiz is focusing on developing new story-based intellectual properties to expand its global fan base and has announced plans to launch several new titles later this year.