NCSOFT Q1 net profit down 50 pct to 57.1 bln won

NCSOFT Corp. on Friday reported its first-quarter net profit of 57.1 billion won (US$41.7 million), down 50 percent from a year earlier. The company said in a regulatory filing that it posted 25.7 billion won in operating profit for the quarter, compared with 81.6 billion won a year ago. Revenue fell 16.9 percent to 397.9 billion won. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 28.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency