Netmarble shared financial earnings for Q3 2023

Netmarble recorded strong performance in the third quarter and expects this momentum to carry into the end of the year.

South Korea’s largest mobile gaming company Netmarble reported $484.99 million in revenue and $18.79 million in EBITDA for the third quarter of 2023, an increase from the previous quarter. Overseas sales accounted for 83% ($400.42 million) of total global sales.

Cumulatively for 2023, Netmarble earned $1.41 billion in sales and $42.58 million in EBITDA. The company reported an operating loss of $67.15 million. North America led revenues (47%) with diversification across other key territories as follows: Korea (17%), Europe (12%), Southeast Asia (10%), Japan (6%), and other regions (8%). Netmarble’s portfolio showed genre diversification across Casual Games (44%), RPG (35%), MMORPG (10%), and other genres (11%).

Top performing titles for the third quarter included: MARVEL Contest of Champions (10%) (Kabam), Jackpot World (9%), Cash Frenzy (8%), Lotsa Slots (8%), Seven Knights Idle Adventure (5%), Tower of God: New World (5%), and The Seven Deadly Sins: GRAND CROSS (5%).

“Netmarble recorded strong performance in the third quarter, with recently launched titles Seven Knights Idle Adventure and Tower of God: New World demonstrating remarkable achievements,” said Young-sig Kwon, CEO of Netmarble. “We’re expecting this momentum to carry into the end of the year, and we’re also anticipating a further boost in performance in 2024 as we prepare to launch six new titles during the first half of the year.”

These new launches include Arthdal Chronicles: Three Factions, Solo Leveling: ARISE, Paragon: The Overprime, Raven 2, and King Arthur: Legend Rises, as well as the launch of Meta World: My City in Korea. Ni no Kuni: Cross Worlds will also be launched in China.

NEXT: Mobile Games in Q3 | Competition intensifies; global mobile game advertisers grow 72.3% year-over-year

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