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Studio Dragon (253450) investor relations material
Studio Dragon Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue rose 16.5% YoY to W159.0bn and operating profit increased 44.4% to W15.1bn, supported by global OTT originals, overseas pre-sales, stronger content sales and cost efficiency.
9M26 revenue reached W459.6bn, up 19.4% YoY, and operating profit rose 212.6% to W37.0bn.
Financial highlights
Q3 net profit was W4.5bn, down 49.1% YoY; net margin fell 3.7 percentage points to 2.9%.
Distribution revenue rose 31.7% YoY to W139.6bn, while programming revenue declined 38.1% to W17.1bn.
9M26 net profit was W24.1bn, up 219.7% YoY; pre-tax profit rose 182.0% to W32.2bn.
Outlook and guidance
Q4 outlook cited expanded pre-sales and a higher hit ratio; strategy includes global pre-buy expansion and improved content recoupment.
Cost savings reached ~8% in 9M26, with a ~10% FY2026 target; plans also include IP expansion and greater cost efficiency.
Q4 slate includes The Substitute on TVING from Nov. 23, Gift on tvN from Dec. 5, and Tantara on Netflix from Dec. 11.
- Q2 revenue up 11% YOY, profit turnaround, and global streaming hits supported stable earnings.253450
Q2 2024 - Revenue up 19.8% with profit rebound; mobile commerce and global IPs drive future growth.253450
Q4 2024 - Q3 2024 brought a major net loss and sharp revenue declines, but cash and global growth remain strong.253450
Q3 2024 - Q1 2025 saw break-even profit on KRW 1.1383T revenue, but Studio Dragon's profit fell sharply.253450
Q1 2025 - Q2 2025 revenue up 13% YoY, profit and Studio Dragon revenue down, global content drives H2 rebound.253450
Q2 2025 - Q3 2025 delivered 11% YoY profit growth and global expansion amid margin improvement.253450
Q3 2025 - Operating profit more than doubled YoY in Q4 2025, led by lineup growth and global expansion.253450
Q4 2025 - Q1 2026 revenue up 16%, operating profit up 50%, driven by global content and OTT growth.253450
Q1 2026 - Operating profit up 17% in Q2 2026 as platform and content growth offset revenue decline.253450
Q2 2026
Next Studio Dragon earnings date
Next Studio Dragon earnings date
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