Gravity Co (GRVY) has released an update.
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Gravity Co., Ltd., a leading South Korean game developer, revealed a dip in first quarter revenues by 17.7% quarter-over-quarter and 27.4% year-over-year, alongside a contrasting 24.5% profit increase from the previous quarter. The declines were primarily attributed to lower revenues from key titles like Ragnarok Online in certain Asian markets, although some losses were offset by new launches in other regions. Additionally, the company announced its intent to expand its popular Ragnarok Online IP with several new games and a novel indoor-screen golf brand, signaling continued growth efforts.
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