Gravity falls on dull quarter

GRAVITY Co

14/11/2022 18:58

** Shares of South Korea-based videogame maker Gravity Co
Ltd  GRVY.O  down ~7% at $50.03 as Q3 earnings slow 
    ** Q3 net earnings fall 39% to $11.2 mln from yr earlier
    ** Rev falls 20.4% to $71.5 mln, as sales of Ragnarok Online
game weaken in Taiwan and Thailand  urn:newsml:reuters.com:*:nGNXbJ4Kg5 
    ** Cuts advertising expenses for certain games in Q3
    ** YTD, stock down ~27% including session moves 
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))