Me2on Reports Operating Profit of 4.7 Billion KRW in Q2, Up 7.2% QoQ

Global comprehensive entertainment company Me2on announced on the 13th that it recorded sales of 24.5 billion KRW, operating profit of 4.7 billion KRW, and net profit of 4.9 billion KRW in the second quarter of this year. Although sales decreased by 3.4% compared to the previous quarter, operating profit and net profit increased by 7.2% and 12.3%, respectively.

During the same period, its subsidiary Ghost Studio recorded sales of 22.3 billion KRW, operating profit of 5.7 billion KRW, and net profit of 5.8 billion KRW. Ghost Studio also saw sales decrease by 3.4% compared to the previous quarter, while operating profit and net profit rose by 11.8% and 14.3%, respectively.

Me2on aims to rebound in the second half of the year by strengthening the competitiveness of the group’s IP.

In the gaming business sector, based on feedback secured from global users of casual games Cooking Tour and Match Miracle, released by its subsidiary Ghost Studio, Me2on plans to fully update the content and improve performance through a revision of monetization elements.

In the webtoon business sector, its subsidiary Bluepic’s 'Academy’s Genius Swordsman,' released last year, entered the top 5 of Naver Sunday Webtoon and achieved 2nd place in the overall ranking of Japan’s LINE Manga, continuing its popularity in overseas markets. By launching three works, including 'Wise Civilization Life,' in the U.S. market, Me2on plans to increase overseas sales.

Me2on Group CFO (Chief Financial Officer) Choi Won-seok said, “In a situation where industry competition is intensifying, we are improving operating profit through efficient cost execution and optimized marketing execution via the BI (Business Intelligence) system. In the second half of the year, we will strengthen content competitiveness and focus on maximizing profitability by servicing new games and webtoons that reflect the needs of global users.”