[Market Focus] Pearl Abyss Soars Over 7% on Strong Q3 Earnings

Pearl Abyss showed strong gains in early trading on November 12 following news of a return to profitability in the third quarter.

As of 9:26 a.m. on this day, Pearl Abyss shares were trading at 38,500 won on the KOSDAQ market, up 7.24% from the previous trading day. The stock opened at 38,450 won and at one point during the session rose as high as 39,900 won.

On the morning of November 12, Pearl Abyss announced its consolidated earnings for the third quarter, reporting sales of 106.8 billion won and operating profit of 10.6 billion won. Sales increased by 34.4% compared to the same period last year, and operating profit saw a significant turnaround from an operating loss of 9.2 billion won in the same period last year, returning to profitability. Net profit for the period also turned positive, reaching 29 billion won.