South Korean game company Com2us reported outsized profits this week thanks to the global success of its mobile and social titles, especially its recently-released Summoners War and Ace Fishing games. The company reported profits of $39.9 million USD (43.6 billion South Korean won) during the third quarter of its fiscal year, an astounding 3,165 percent increase over the $1.2 million USD it reported during the same period a year prior. Com2us’ remarkable jump in profits was driven by $84.6 million USD (92.1 billion KRW) in sales for the quarter, a roughly 438 percent increase year-over-year. The company’s recent sales growth is particularly interesting to global industry watchers because roughly 80 percent of it ($67.5 million USD [73.5 billion won]) came from overseas sales, suggesting Com2us is gaining a foothold in the global mobile games market — especially in Japan, which accounted for 60 percent of Com2us’ overseas revenue and is currently the most lucrative mobile market in the world. Com2us certainly seems to think the overseas market is worth pursuing, as it announced plans this quarter to launch a variety of new mobile titles targeted at a global audience. The company also attributed some of its overseas success to Hive, an online games platform jointly operated by Com2us and fellow South Korean games giant Gamevil. Gamevil spent roughly $65 million to acquire a majority stake in Com2us last October, when the company’s earnings reports were significantly less robust.
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2014