South Korea's Gravity Q1 revenue rises 17.8% on Ragnarok launches

GRAVITY Co

08/05/2026 11:08

Overview

South Korean online and mobile game developer's Q1 revenue rose 17.8% yr/yr, driven by Ragnarok launches

Q1 net profit attributable to parent company increased 33.4% yr/yr

Company's Q1 operating expenses fell 17.6% yr/yr, mainly due to lower advertising and R&D costs

Outlook

Company did not provide specific financial guidance or outlook commentary

Result Drivers

MOBILE GAME LAUNCHES - Initial revenues from Ragnarok: The New World in Taiwan, Hong Kong and Macau, and Ragnarok Origin Classic in Southeast Asia, Taiwan, Hong Kong, Macau and Korea drove mobile game revenue growth

ONLINE GAME PERFORMANCE - Higher online game revenue mainly due to Ragnarok Online in Japan and new launches in Thailand and Latin America

COST OF REVENUE - Higher cost of revenue mainly from initial commissions paid for new mobile game launches

Company press release: ID:nGNX3SWH8x

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
KRW 161.88 bln
Q1 Net Income
KRW 29.39 bln
Q1 Operating Expenses
KRW 20.82 bln
Q1 Operating Profit
KRW 30.83 bln
Q1 Pretax Profit
KRW 38.33 bln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)