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GRAVITY Shares Soar Post Q1 Results; Ragnarok Drives Online Gaming Revenue

By Anusuya Lahiri
  • GRAVITY Co, Ltd (NASDAQ:GRVYreported a first-quarter FY22 revenue decline of 15.7% year-on-year to $73.1 million.
  • Online game revenues rose 10.2% Y/Y to $ 17.7 million due to increased revenues from Ragnarok Online in Taiwan, the Philippines, Singapore, and Malaysia. 
  • Mobile game revenues declined 23.3% Y/Y to $52.2 million due to revenues from Ragnarok Origin in Korea, Ragnarok X: Next Generation in Taiwan, Hong Kong, and Macau, and Ragnarok M: Eternal Love.
  • Operating profit declined 20.2% Y/Y to $18.4 million as costs decreased 21.4% Y/Y and operating expenses climbed 7.6% Y/Y.
  • GRAVITY held $219.9 million in cash and equivalents.
  • Ragnarok Online, which was initially launched in Korea on August 1, 2002, is going to celebrate its 20th anniversary in Korea in the 2H22. GRVY plans to launch Ragnarok X: Next Generation in Korea in 2H22.
  • Price Action: GRVY shares traded higher by 19.5% at $55.58 on the last check Friday.
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Dive Deeper:
Coupang Shares Soar Afterhours On Q1 Results, Clocks 22% Revenue Growth
Coupang Inc (NYSE:CPNG) reported first-quarter revenue growth of 22% year-over-year to $5.12 billion, +32% on a constant currency basis, missing the consensus…
Read How Himax Technologies Fared In Q1
Himax Technologies, Inc (NASDAQ:HIMX) reported first-quarter FY22 revenue growth of 33.6% year-on-year to $412.8 million. Net revenues declined 8.6% sequentially. Revenue from large…
Euronav Q1 Results Surpass Street Expectations
Euronav NV (NYSE:EURN) reported that first-quarter revenue improved by 5.1% year-over-year to $114.37 million, beating the consensus of $92.73 million. Total shipping…
Honest Company Stock Gains Post Q1 Results; Maintains FY22 Outlook
Honest Company Inc (NASDAQ: HNST) reported a first-quarter FY21 sales decline of 15% year-on-year to $68.72 million, missing the consensus of $68.80 million. Diapers…
One subscription that gives you access to news from hundreds of sites
CyberArk Software Clocks 13% Revenue Growth In Q1, Misses Street View
CyberArk Software Ltd (NASDAQ:CYBR) reported first-quarter FY22 revenue growth of 13% year-on-year to $127.6 million, missing the consensus of $130.3 million. Non-GAAP EPS…
Live Ventures Clocks 2% Decline In Q2 Revenue Amid Inflationary Pressures
Live Ventures Inc (NASDAQ:LIVE) reported a second-quarter FY22 revenue decline of 1.7% year-on-year to $69.7 million. Segments: Retail segment revenue declined 13.6% Y/Y to…
Get all your news in one place