CyberAgent (4751) Q3 2025 earnings summary

Executive summary

• Q3 FY2025 saw strong overperformance, with operating profit 2.4x year-on-year and consolidated sales reaching 210.8 billion yen, up 10.9% year-over-year.

• Net income for the quarter reached JPY 31 billion, reflecting robust business momentum and a 94.0% year-over-year increase in full-year forecast.

• Upward revision to full-year forecasts for sales, operating profit, and net income due to significant outperformance.

• Internet Advertisement business experienced a decline in sales and operating profit due to client losses and higher HR costs.

• Comprehensive income for the cumulative third quarter increased 55.2% year-over-year to ¥30,775 million.

Financial highlights

• Q3 net sales: 210.8 billion yen (+10.9% YoY); operating income: 19.6 billion yen (+138.3% YoY); net income: 8.2 billion yen (+46.6% YoY).

• Gross profit increased 30.4% YoY to 63.5 billion yen; SG&A expenses rose 8.4% YoY to 43.9 billion yen.

• Total assets as of June 30, 2025, were ¥530,931 million, up 7.9% year-over-year.

• Ordinary income reached ¥48,631 million, a 35.6% increase year-over-year.

• Basic earnings per share for 3Q FY2025 was ¥47.59, compared to ¥29.09 in 3Q FY2024.

Outlook and guidance

• Full-year FY2025 net sales forecast revised to ¥850,000 million (+6.1% YoY), operating and ordinary income both projected at ¥66,000 million (+64.7% YoY), and net income at ¥31,000 million (+94.0% YoY).

• Dividend forecast maintained at ¥17.00 per share.

• OP expected to rebound significantly from FY2023, driven by hit game titles and Media & IP growth.

• Plans to continue global expansion, especially in the media, IP, and game businesses.