SEOUL: NCSOFT Corp. on Monday reported its third-quarter net loss of 26.5 billion won (US$19.3 million), swinging from a profit of 44 billion won a year earlier. The South Korean gaming giant released its financial results, highlighting a significant downturn compared to the same period last year.

According to Yonhap News Agency, the company disclosed in a regulatory filing that it experienced an operating loss of 14.3 billion won for the July-September period. This is in stark contrast to the 16.5 billion won operating profit recorded during the same timeframe the previous year. The report further detailed a 5 percent decline in revenue, totaling 401.9 billion won, contributing to the financial challenges faced by the company.

The financial results underscore a challenging quarter for NCSOFT, known for its online games and technology innovations. The shift from profitability to a net loss highlights the pressures and competitive nature of the gaming industry.