[Alpha Biz= Reporter Kim Minyoung] On the 23rd, Korea Investment & Securities maintained a 'Neutral' rating on Com2uS, citing difficulties in improving performance.
Korea Investment & Securities projected Com2uS's Q2 revenue to decrease by 17.3% year-on-year to KRW 182.2 billion, with an operating loss of KRW 1.2 billion, continuing its deficit and falling short of market expectations.
The firm noted, "The domestic mobile game market is becoming increasingly competitive, and Com2uS is facing challenges within it. Most of the new releases in recent years have failed to achieve significant success, causing the game division's revenue to stagnate at around KRW 500 billion."
While Com2uS recently announced new titles such as 'Summoners War: Legion' and 'Pro Baseball RISING,' Korea Investment & Securities commented, "The overall uncertainty in the domestic mobile game market has increased, and the release schedules of these titles remain uncertain. It is prudent to wait for post-launch performance before making investment decisions."
Considering the declining growth rate of the domestic mobile game market and Com2uS's new lineup, the firm concluded, "Performance improvement may be possible after next year. For now, we maintain a conservative outlook."
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
