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Netmarble's Q3 FY21 revenue down 5.5% to $537 million

Overseas sales accounted for 70% of overall revenue
Netmarble's Q3 FY21 revenue down 5.5% to $537 million
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Mobile games outfit Netmarble has reported its Q3 2021 financials for the period ending September 30th, 2021.

The South Korean firm has reported its revenue for the period reached $536.9 million, a 5.5 per cent decrease year-over-year, while net profit arrived at $31.6 million, down by 61 per cent.

Ni no Kuni: Cross World was the highest performing game of the quarter, which accounted for 20 per cent of overall revenue.

The second and third best performing titles for the quarter were Marvel Contest of Champions and The Seven Deadly Sins: Grand Cross, which constituted 13 per cent and seven per cent of overall revenue respectively.

Geographically, the company’s revenue was split between North America (34 per cent), Korea (30 per cent), Japan (12 per cent), Southeast Asia (11 per cent), Europe (9 per cent), and other territories (4 per cent).

Collectively, overseas sales accounted for around 70 per cent of overall revenue, totalling $376.8 million.

An optimistic outlook

Netmarble’s MMORPG portfolio constituted 40 per cent of its revenue, with the global release of Marvel Future Revolution providing an eight per cent increase over the previous quarter.

The firm previously stated that it hoped the release of Marvel Future Revolution would "fortify its competitive edge". Overall, the title, released globally on August 25th, accounted for 4 per cent of overall revenue.

Other significant genre contributors include RPGs, which generated 27 per cent of revenue, and casual games, which accounted for 22 per cent of quarterly revenue.

"Netmarble saw growth quarter-over-quarter with incoming revenue from the previous release of Ni no Kuni: Cross Worlds and the global launch of MARVEL Future Revolution,” said Netmarble CEO Seungwon Lee.

"We expect earnings to improve in Q4 following the consolidation of earnings, which will include global sales from our recently acquired social casino game company SpinX Games, along with the launch of Seven Knights 2, which debuted in 172 countries worldwide."

Looking forward, the firm has scheduled the release for several titles throughout the first half of 2022, including a worldwide launch of Ni no Kuni: Cross Worlds, Merge KUYA Island, and the launch of Seven Knights Revolution in South Korea.