External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>For 2Q25, Neowiz reported revenue of W110.0bn (+26% YoY) and operating profit of W18.6bn (+292% YoY), beating the consensus estimates (W97.3bn and W12.5bn, respectively), driven by: 1) the Lies of P downloadable content (DLC; launched on Jun. 7); and 2) the second-anniversary update for Brown Dust 2.</li><li>PC/console revenue reached W57.5bn (+54% YoY), exceeding expectations by roughly W20bn. Mobile revenue grew 9% YoY to W44bn, in line with expectations.</li><li>Brown Dust 2 saw record-high revenue and traffic, driven by the second-anniversary update in June. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

For 2Q25, Neowiz reported revenue of W110.0bn (+26% YoY) and operating profit of W18.6bn (+292% YoY), beating the consensus estimates (W97.3bn and W12.5bn, respectively), driven by: 1) the Lies of P downloadable content (DLC; launched on Jun. 7); and 2) the second-anniversary update for Brown Dust 2.PC/console revenue reached W57.5bn (+54% YoY), exceeding expectations by roughly W20bn. Mobile revenue grew 9% YoY to W44bn, in line with expectations.Brown Dust 2 saw record-high revenue and traffic, driven by the second-anniversary update in June. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Neowiz (095660 KQ/Buy)Solid Earnings Delivery Continues