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 3Q25, Netmarble posted revenue of W696bn (+8% YoY; in line with the consensus) and operating profit of W91bn (+39% YoY; 9% above the consensus).</li><li>The domestic success of the new title Vampir and the global launch of Seven Knights Re:Birth were the main growth drivers.</li><li>Vampir delivered revenue of W63bn (daily average of around W1.7bn), while Seven Knights Re:Birth recorded revenue of W84bn (daily average of around W900mn).</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 3Q25, Netmarble posted revenue of W696bn (+8% YoY; in line with the consensus) and operating profit of W91bn (+39% YoY; 9% above the consensus).The domestic success of the new title Vampir and the global launch of Seven Knights Re:Birth were the main growth drivers.Vampir delivered revenue of W63bn (daily average of around W1.7bn), while Seven Knights Re:Birth recorded revenue of W84bn (daily average of around W900mn).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.

Netmarble (251270 KS/Buy)Another Earnings Surprise Likely in 4Q25