News

Netmarble share prices fall 8.3% from its IPO price despite $610 million revenues in Q1

Netmarble share prices fall 8.3% from its IPO price despite $610 million revenues in Q1

Netmarble's share price has tumbled by 8.3% from its IPO price after investors were apparently underwhelmed by the company's Q1 FY17 financials.

The company had closed its IPO on May 12th with share prices at $144, making it the second-biggest IPO in South Korea's history. It valued the company at $12.2 billion overall.

However, as The Korea Herald reports, its latest financials were said to have fallen short of expectations that were heightened by its IPO.

This is despite posting impressive revenues of $609.9 million for the quarter, up 111% year-on-year, and profits of $102.5 million, up 172% year-on-year.

Down but not out

Share prices fell to $128 on May 17th, a decrease of 8.3% from its IPO price. This is also a 7.7% decrease from the previous session.

Aside from the company's financials, it has been suggested that NCSoft's announcement of Lineage M impacted share figures. The game will directly rival Netmarble's own successful Lineage title, Lineage 2 Revolution.

This fall could just be a small blip for Netmarble, however. Lineage 2 Revolution has proven to be wildly successful in its home country, and the publisher is preparing to launch the title around the world in the coming months, along with other games from the company.


Deputy Editor

Ric likes to read epic poems and watch classic films to hide the fact he plays way too many games. The facade has thus far not been very effective.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies
Important information

This site uses cookies to store information on your computer. By continuing to use our site, you consent to Steel Media's privacy policy.

Steel Media websites use two types of cookie: (1) those that enable the site to function and perform as required; and (2) analytical cookies which anonymously track visitors only while using the site. If you are not happy with this use of these cookies please review our Privacy Policy to learn how they can be disabled. By disabling cookies some features of the site will not work.