MeetOn Group's Q3 Operating Profit Increases by 11% Year-on-Year

KOSDAQ-listed companies Me2on and Ghost Studio announced their third-quarter earnings for this year.

Me2on disclosed on the 9th that it recorded consolidated sales of 26.3 billion KRW, operating profit of 7.6 billion KRW, and net profit of 6.1 billion KRW in the third quarter of this year. Operating profit and net profit increased by 10.9% and 35.0%, respectively, compared to the same period last year.

Its subsidiary, Ghost Studio, posted sales of 23.9 billion KRW, operating profit of 8.2 billion KRW, and net profit of 6.9 billion KRW. Operating profit and net profit rose by 15.1% and 21.3%, respectively, compared to the same period last year.

The Me2on Group is striving to strengthen competitiveness across all business divisions. In the gaming sector, Me2on plans to launch the tournament P2E game ‘Solitaire Crypto War’ within this month. Ghost Studio will sequentially release its lineup, including the recently announced new 3D casual puzzle game 'Match Miracle', casual games such as ‘Tripix Island Adventure’ and ‘Cooking Tour’, and the third-person strategy shooting game ‘Pizza Bandit’ by the first half of next year.

In the webtoon business sector, Bluepic is successfully serializing ‘Academy Genius Swordsman’ on Naver Webtoon. The series has completed its overseas launch in Asian regions including China and Thailand, as well as in North America. In the fourth quarter of this year, additional fantasy genre webtoon works are planned to be serialized on Naver, continuously expanding the K-content business.

Choi Won-seok, Chief Financial Officer (CFO) of Me2on, stated, "Despite intensified industry competition, Me2on Group maintained efficient execution of labor and marketing expenses, resulting in increased operating profit." He added, "Starting from the fourth quarter, we expect a positive impact on the group’s performance by reflecting sales from the new releases and Ghost Studio’s entertainment business division."