Gravity Co’s Soaring Earnings and Profit Growth

Gravity Co (GRVY) has released an update.

Gravity Co., a South Korean online and mobile game developer, reported a significant revenue increase of 56.5% for the fiscal year 2023, driven largely by the mobile game segment with the successful launch of Ragnarok Origin in Southeast Asia. Despite a dip in online game sales, the company saw a 22.6% growth in gross profit while reducing selling, general and administrative expenses by 13%. The financial year concluded with an impressive net profit surge, marking a robust performance for Gravity Co.

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