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, Pearl Abyss posted revenue of W79.6bn (-3% YoY) and an operating loss of W11.8bn (loss sustained YoY), falling short of the consensus estimates (revenue of W81bn and operating loss of W9.6bn).</li><li>The weak performance was mainly due to the continued decline and stabilization of the Black Desert IP.</li><li>Black Desert revenue came in at W54.9bn (-9% YoY, -13% QoQ), down more sharply than expected and missing forecasts by 6%</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, Pearl Abyss posted revenue of W79.6bn (-3% YoY) and an operating loss of W11.8bn (loss sustained YoY), falling short of the consensus estimates (revenue of W81bn and operating loss of W9.6bn).The weak performance was mainly due to the continued decline and stabilization of the Black Desert IP.Black Desert revenue came in at W54.9bn (-9% YoY, -13% QoQ), down more sharply than expected and missing forecasts by 6%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.

Pearl Abyss (263750 KQ/Hold)The Fate of the Boy Who Cried Wolf