NHN (181710) Q2 2026 earnings summary

Executive summary

• Achieved record high quarterly consolidated revenue and operating profit in Q2 2026, driven by growth across game, payment, and tech businesses.

• Operating revenue reached KRW 757.9 billion in Q2 2026, up 25.3% year-over-year and 12.9% quarter-over-quarter.

• Operating profit surged to KRW 57.9 billion, up 164.1% year-over-year and 120.6% quarter-over-quarter.

• Net profit was KRW 29.1 billion, up 158.8% year-over-year but down 6.6% sequentially due to non-recurring Q1 gains.

• Profitability improvements reflect multi-year business streamlining and cost control initiatives.

Financial highlights

• Q2 consolidated revenue: KRW 757.9 billion, up 25.3% YoY and 12.9% QoQ.

• Q2 consolidated operating profit: KRW 57.9 billion, up 164.1% YoY and 120.6% QoQ.

• Q2 net profit: KRW 29.1 billion, up 158.8% YoY but down 6.6% QoQ.

• Q2 operating expenses: KRW 700 billion, up 20.1% YoY and 8.5% QoQ.

• Operating profit margin improved to 7.6%, up 4.0 percentage points YoY.

Outlook and guidance

• Focus on building further growth momentum in H2 2026.

• Technology segment expects continued GPU revenue growth with new long-term contracts under discussion.

• Plans to secure at least 30 MW additional AI data center capacity by next year and add B300-based GPU assets.

• Expectation of continued cost control and efficiency improvements.

• Depreciation from new data centers expected to be stable in Q3, with potential increases tied to revenue growth.