[Special Stock] AfreecaTV Soars on Strong Q2 Performance... Hits 52-Week High

[Asia Economy Reporter Ji Yeon-jin] AfreecaTV's stock price is soaring more than 10% following the announcement of its Q2 earnings.

As of 2:26 PM on the 26th, AfreecaTV is trading on the KOSDAQ market at 129,700 KRW, up 11.52% (13,400 KRW) compared to the previous trading day. During the session, the stock price rose to 133,000 KRW, setting a new 52-week high.

AfreecaTV announced that its Q2 revenue this year reached 65 billion KRW, a 44% increase compared to the same period last year. Operating profit surged 97% to 21.5 billion KRW. Net profit for the period was 18.9 billion KRW, up 85% year-over-year.

AfreecaTV attributed the strong performance to an increase in advertising revenue. The launch of the new advertising management platform, 'AfreecaTV Ads Manager' (AfreecaTV Ads Manage·AAM), boosted platform advertising revenue. Additionally, the opening of sports leagues and the release of new games expanded advertiser demand, leading to significant growth in content-type advertising revenue.