Com2us Holdings 3Q sales decrease by 29.9% compared to the previous year, reduced deficit

Comes Holdings unveiled its 3Q results on November 11 and 2022.

Comes Holdings recorded sales of 32.2 billion won, operating loss of 600 million won, and net loss of 7.4 billion won. Sales fell 29.9% YoY, and operating losses were 600 million won, down 60.4% from the previous quarter.

In terms of sector, sales in the game sector increased by 18.8% year-on-year to W27.1bn. Walking Dead: All-Stars has risen significantly due to the global launch of global launch and sales increase in overseas subsidiaries. However, the investment income of related companies fell 78% year-on-year to W5.1bn. This is because subsidiaries and coin One’s earnings have been significantly reduced than last year. Comes Holdings said that virtual assets related to virtual assets recorded a deficit.

The reason for the deficit turning is that operating costs have increased significantly. This quarter, Comes Holdings’ operating costs rose 35% year-on-year to W32.8bn. In the process of relocating the workforce to strengthen the blockchain business, labor costs increased by 23.1% year-on-year, and marketing costs also increased 198.6% year-on-year with the launch of Working Dead: All-Stars Global.

Comes Holdings plans to launch a new work to preoccupy the blockchain game market from 4Q. On the 9th, Hi Ella was successfully released through PLA Main net, and new works such as Trio, Ones Face, and Meta World will be on board on PLA. In addition, five games will be released next year, including Web 3 Game Creature, World of Xenon, Eternal Three Kingdoms, Alchemist, and Genoa Online.

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