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Games & Commerce
Mgame Q2 operating profit falls 9.4 percent to 2.44 billion won
Mgame reported second-quarter consolidated revenue of 21.26 billion won and operating profit of 2.44 billion won, it said in a filing on Thursday. Revenue rose 6.4 percent from a year earlier, while operating profit fell 9.4 percent and net profit dropped 56.7 percent to 717 million won. First-half revenue totalled 45.5 billion won. The company cited tax and financial asset valuation factors for the net profit decline.
Games & Commerce
Mgame executives buy 100 million won worth of own shares
Mgame said on Thursday that its registered executives, including Vice President Hong Deung-ho and Director Lee Jae-chang, bought 50 million won each of the company’s shares on the open market. It said the purchases reflect management’s confidence in the company’s sustainable growth and that it will consider additional buying depending on market conditions. Mgame has expanded shareholder-friendly policies, including cash dividends and a 2 billion won share buyback to be fully retired.
Games & Commerce
Mgame\'s Q1 operating profit falls 51 percent on base effect
Mgame reported lower first-quarter results from a year earlier due to a base effect from strong performance a year ago, while revenue rebounded from the previous quarter. The company posted 24.2 billion won in revenue and 3.2 billion won in operating profit. It plans pre-registrations in the third quarter for an idle mobile game based on its Guhon IP and aims to expand its lineup in the second half.
