Mgame Records Highest Q2 Revenue in 2024

Mgame announced on the 14th that it recorded consolidated sales of 18.1 billion KRW, operating profit of 700 million KRW, and net profit of 3.8 billion KRW in the second quarter of this year.

Sales in the second quarter of this year increased by 1% compared to last year, when the highest second-quarter sales were achieved. The company's flagship PC MMORPGs (Massively Multiplayer Online Role-Playing Games), Yeolhyeol Gangho Online and Knight Online, posted solid overseas results in China and the North American and European markets, respectively, achieving the highest second-quarter performance despite the off-season for online games.

Operating profit and net profit decreased by 81.3% and 20.9%, respectively, due to a temporary increase in regular development expenses.

In the second half of the year, two mobile MMORPGs based on the popular IPs (Intellectual Properties) Gwihon and Yeolhyeol Gangho Online are scheduled to be released. GwihonM, a side-scrolling MMORPG that implements the worldview and characters of Gwihon in a mobile environment, completed its beta test on One Store in May with favorable reviews. The game is currently undergoing final polishing before release, reflecting user feedback collected during the test, and is planned for launch in the second half of the year.

Jeonmin Gangho, developed by Chinese game company Kingnet based on the graphics of Yeolhyeol Gangho Online, is undergoing localization work with the goal of launching in the fourth quarter.

The domestic version of Yeolhyeol Gangho Online will celebrate its 20th anniversary of service this November with a large-scale update including level cap increases and new map additions, and the update will be promptly applied to the Chinese version afterward.

Mgame CEO Kwon Yi-hyung said, "Despite the off-season for PC online games in the second quarter, we achieved the highest second-quarter sales." He added, "The decrease in operating profit due to one-time costs is expected to recover in the third quarter." He also stated, "New sales are expected with the release of new titles based on popular IPs in the second half of the year."