SOOP Reports 30 Billion KRW Operating Profit in Q2, Down 9.9% Year-on-Year

Sales Up 15%
Growth in Content Advertising and Consolidation Effect of PlayD

SOOP announced on the 30th that its consolidated operating profit for the second quarter of this year was provisionally tallied at 30.014 billion KRW, a decrease of 9.9% compared to the same period last year.

During the same period, sales increased by 15.2% to 116.9 billion KRW, while net profit for the period fell by 18.6% to 22.517 billion KRW.

SOOP logo.

Breaking down sales by segment, platform sales in the second quarter reached 84.5 billion KRW, up 2.1% year-on-year, and advertising sales grew by 75.7% to 30.8 billion KRW. Platform sales saw increased user inflow due to the expansion of sports and game content, but profitability declined. Advertising sales benefited from the growth of content-based advertising and the consolidation effect of PlayD, a digital advertising agency that joined in March.

Operating profit declined compared to the same period last year, not only because of an increase in variable costs for advertising sales, but also due to the execution of brand marketing.

In the first half of this year, sales amounted to 224.5 billion KRW and operating profit reached 62.8 billion KRW, representing increases of 15% and 1%, respectively, compared to the same period last year.

A SOOP official stated, "To secure long-term competitiveness based on our platform, we have set tasks such as advancing artificial intelligence (AI) services, refining our technological framework, and expanding into global markets, and we plan to lay the groundwork across all areas of technology and operations."