CyberAgent (4751) Q3 2024 earnings summary

Executive summary

• All major business segments—Internet Advertising, Games, and Media—delivered strong results in 3Q FY2024, with significant year-over-year growth in both revenue and profit.

• Operating profit surged nearly sixfold year-over-year to ¥8.58 billion, with net income attributable to parent company shareholders up 747.0% to ¥5.96 billion.

• Net sales for 3Q FY2024 rose 11.9% year-over-year to ¥598,584 million, with operating income up 89.5% to ¥35,932 million and net income attributable to owners of the parent surging 339.3% to ¥15,825 million.

• Growth was driven by robust performance in internet advertising, gaming, and media businesses, with significant improvement in profitability.

Financial highlights

• Consolidated revenue for 3Q FY2024 was ¥190.4 billion, up 10.9% year-over-year; operating profit was ¥8.58 billion, up 497.5%.

• Net income attributable to parent company shareholders was ¥5.96 billion, up 747.0% year-over-year.

• Gross profit increased to ¥164,611 million from ¥142,456 million year-over-year.

• Annual targets for operating income, ordinary income, and net income already surpassed by Q3.

• Revised full-year forecasts: net sales ¥790 billion (+9.7% YoY), operating income ¥41 billion (+67.0%), net income ¥16.5 billion (+209.4%).

Outlook and guidance

• Upward revision of full-year forecasts due to strong Q3 results, with sales from Timee not included in Q4 forecast.

• FY2024 full-year revenue forecast raised to ¥790 billion, operating profit to ¥41 billion, and net income to ¥16.5 billion.

• Continued commitment to increasing sales and profits in the mid-to-long term.

• Dividend forecast maintained at ¥15 per share.