Gravity (GRVY) Posts Narrower Q1 Loss

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GRAVITY Reports First Quarter of 2016 Results

May 25, 2016 6:25 AM EDT

SEOUL, South Korea, May 25, 2016 (GLOBE NEWSWIRE) -- GRAVITY Co., Ltd. (Nasdaq: GRVY)  (Gravity or Company), a developer and publisher of online and mobile games based in South Korea, today announced its unaudited financial results for the first quarter ended March 31, 2016, prepared in accordance with generally accepted accounting principles in the United States.

FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2016

Revenues for the first quarter ended March 31, 2016 was KRW 9,094 million (US$ 7,984 thousand), representing a 4.5% increase from KRW 8,703 million for the fourth quarter ended December 31, 2015 (QoQ) and a 0.3% increase from KRW 9,069... More