NCsoft net income plummets 50 per cent
Korean publisher's sales continue to tumble impacting on its year-on-year performance
MMO publisher NCsoft has revealed results for the third quarter of the financial year, ended September 30, reporting a 50 per cent drop in net income year-on-year.
The Korean publisher put its net income at KRW 5 billion (USD 3 million) down from KRW 6.6 billion (USD 4.8 million) the previous quarter and significantly down from KRW 10 billion (USD 7 million) for the same period last year.
The poor result is reflected in the company's operating income, which also fell almost 50 per cent, from KRW 7.9 billion (USD 5.8 million) to KRW 4.5 billion (USD 3.3 million). The company experienced an overall sales decline to KR 78,270,000,000.00 (USD 57.6 million) from KR 81,201,000,000.00 (USD 59.6 million).
NCsoft's financial results came as the news broke that Richard Garriott, the creator of the company's flagging Tabula Rasa MMO, is to leave the company and months after the publisher said it would be cutting staff at its US and Europe branches - consolidating them into NCsoft West.