Games & Commerce
Webzen Q1 operating profit falls 39.6 percent, seeks rebound through genre diversification
Webzen said on Monday its first-quarter operating profit fell 39.6 percent from a year earlier to 5.3 billion won, while revenue slipped 5.2 percent to 39.3 billion won. Net profit rose 596.2 percent to 8.8 billion won, reflecting a base effect from weak results a year earlier. The company cited a sharp contraction in the domestic game market, while overseas revenue held up and accounted for 51 percent of sales. It is developing multiple new games.