[THE INVESTOR] Disappointed by Com2us’ quarterly earning, a local brokerage firm has revised down the target price of its stock.
The mobile and online game developer missed analysts expectations by a wide gap as it reported 126.6 billion won (US$115 million) in sales and 48.6 billion won in operating profit in the second quarter.
Com2us' latest baseball-playing game "Com2us Pro Baseball"
“Its operating profit lagged far behind Bloomberg’s consensus which expected 54.9 billion won,” Jung Yong-jae, an analyst at Mirae Asset Securities said on Aug. 11.
The analyst said that the company’s domestic sales rose 6 percent from the earlier quarter, propelled by a newly released game “Com2us Pro Baseball”. But overseas sales declined 8 percent to 107.6 billion won as positive impact from massive update carried out end of 2015 abated.
Mirae Asset Securities lowered the target price on Com2us stock from 170,000 won to 160,000 won.
Com2us closed at 114,300, down 3.46 percent on Aug. 11.
By Park Han-na (
hnpark@heraldcorp.com)
