IGG (799.HKEX) released a positive profit announcement after trading hours on 7 February
(On paper, it looks great as profits grew by 3600%. But in real, it was really expected if anyone had seen the 1H 2024 Financials)
As such, using 1H 2024 Financials to reference to see if there are any improvements
Positives
1) App Business Revenue went from 409 million in 1H 2024 to 691 million in 2H 2024. Representing a good 68% increase and a positive traction is seen.
2) Doomsday and Viking Rise both performed better in 2H 2024 compared to 1H 2024.
Doomsday 2H 2024 = 507m vs 1H 2024 = 493m
Viking Rise 2H 2024 = 391m vs 1H 2024 = 309m
3) Revenue is up as well compared to 1H 2024.
2H 2024 = 3.005 billion vs 1H 2024 =2.735 billion
Negatives
1) Profit from Core Business in 2H 2024 is lower than 1H 2024.
2H 2024 = 294 million vs 1H 2024 = 356 million
Conclusion
Scorecard: 6.5/10
Lords Mobile Revenue likely have decreased which led to the drop is core business profit as it is the game that...
