Stock, Revenue & Profitability: Gravity Co., Ltd. (NASDAQ: GRVY)

On Day, Gravity Co., Ltd. (NASDAQ: GRVY) -3.52% in trading session and finally closed at $41.69. The firm after opening the first trading session at $43.49 Over the one year trading period, the stock has an above price of $96.50 and it’s below is recorded at $15.45. The company has a market cap of $143.89M. The company most recent volume stood at 50,427 shares as compared to its average volume of 79,055 shares.

Gravity Co., Ltd. (NASDAQ: GRVY), recently reported its unaudited financial results for the first quarter ended March 31, 2019.

Subscription revenues for the first quarter of 2019 were KRW 6,256M (US$ 5,506 thousand), representing a 28.2 % increase QoQ from KRW 4,880M and a 29.7% decrease YoY from KRW 8,896M.

Royalty and license fee revenues for the first quarter of 2019 were KRW 3,720M (US$ 3,274 thousand), representing a 34.4% increase QoQ from KRW 2,768M and a 19.5% decrease YoY from KRW 4,619M.

Mobile game and application revenues were KRW 121,147M (US$ 106,615 thousand) for the first quarter of 2019, representing a 17.7% increase QoQ from KRW 102,916M and a 135.7% increase YoY from KRW 51,396M.

Character merchandising and other revenues were KRW 2,500M (US$ 2,200 thousand) for the first quarter of 2019, representing 6.3% decrease QoQ from KRW 2,668M and a 78.6% increase YoY from KRW 1,400M

Cost of revenue was KRW 101,237M (US$ 89,094 thousand) for the first quarter of 2019, representing a 10.9% increase QoQ from KRW 91,304M and a 121.1% increase YoY from KRW 45,784M. The increase QoQ was mainly Because of increased commission paid for mobile game services related to Ragnarok M: Eternal lovein North, South America and Oceania. The increase YoY was mostly from increased commission paid for mobile game services related to Ragnarok M: Eternal love in Southeast Asia, North, South America and Oceania.

Operating expenses were KRW 8,746M (US$ 7,697 thousand) for the first quarter of 2019, representing a 0.5% decrease QoQ from KRW 8,787M and a 44.3% decrease YoY from KRW 15,707M.

Profit before income tax expenses was KRW 24,389M (US$ 21,463 thousand) for the first quarter of 2019 contrast with profit before income tax expense of KRW 13,351M for the fourth quarter of 2018 and profit before income tax expenses of KRW 5,117M for the first quarter of 2018.

As a result of the foregoing factors, Gravity recorded a net profit attributable to parent company of KRW 19,760M (US$ 17,390 thousand) for the first quarter of 2019 contrast with net profit attributable to parent company of KRW 14,967M for the fourth quarter of 2018 and a net profit attributable to parent company of KRW 3,549M for the first quarter of 2018.

The balance of cash and cash equivalents and short-term financial instruments was KRW 127,330M (US$ 112,057 thousand) as of March 31, 2019.

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