Gravity Reports Preliminary Unaudited 4Q, Expects 17.1% Revenue Decrease YoY, Says Ragnarok Origin Will Launch In China In The First Half Of 2024
Portfolio Pulse from Benzinga Newsdesk
Gravity Co., Ltd. (GRVY) announced preliminary unaudited results for the fourth quarter, expecting a 17.1% decrease in revenue year-over-year. The company also revealed plans to launch Ragnarok Origin in China during the first half of 2024.
February 14, 2024 | 11:31 am
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Gravity Co., Ltd. anticipates a 17.1% decline in Q4 revenue YoY but plans to expand its market with Ragnarok Origin's launch in China by H1 2024.
The anticipated revenue decrease is a negative short-term indicator, potentially leading to a bearish investor sentiment. However, the planned launch of Ragnarok Origin in China could offset some of the negative impact by opening up new revenue streams and market expansion opportunities. The mixed nature of this news leads to a neutral score, with high relevance due to the direct impact on GRVY's financials and operations.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100