1. Com2uS Q2 Earnings: What Happened?

Com2uS reported revenue of KRW 139.5 billion, operating profit of KRW 4.9 billion, and net profit of KRW 12.6 billion for Q2 2025. While revenue fell short of market expectations (KRW 186.3 billion), the company achieved a turnaround in operating profit and significantly exceeded net profit forecasts.

2. Analyzing the Drivers: Why These Results?

The decline in revenue is primarily attributed to slowing growth in existing games and weak performance of new releases. Increased competition in the global gaming market and challenges in securing new IPs also contributed to the decline. Conversely, the improvement in operating and net profit is attributed to cost management efforts and non-operating income, such as gains from financial instruments.

3. Outlook and Investment Strategy: What’s Next?

In the short term, improved operating and net profits are expected to create positive momentum for the stock. However, in the medium to long term, revenue recovery and the success of new game releases will be crucial variables. Investors should closely monitor new game launch schedules and the performance of the media/content segment. Furthermore, given the high proportion of overseas sales, it is essential to consider exchange rate volatility.

4. Investor Action Plan

  • Develop a strategy to capitalize on short-term positive momentum.
  • Continuously monitor the company’s ability to secure mid-to-long-term growth drivers.
  • Keep a close eye on the performance of new games and the media/content business.
  • Manage risks associated with exchange rate fluctuations.