Com2uS shares rise 7.25% as Zeus tops app-store revenue charts

  • Com2uS’s new MMORPG reached No. 1 revenue rankings on Apple’s App Store and Google Play within 18 hours of launch.
  • Com2uS shares traded at 37,000 won at 9:34 a.m. on September 2, up 7.25%, after reaching 38,800 won intraday.
  • Kiwoom Securities raised its target price to 50,000 won and maintained a buy rating, while Zeus’s longer-term user retention remains unproven.

Com2uS shares rose 7.25% to 37,000 won at 9:34 a.m. on September 2 after its new MMORPG reached the top revenue position on Apple’s App Store and Google Play within 18 hours of its August 26 launch. The stock earlier reached an intraday high of 38,800 won. The game topped Apple’s App Store on launch day, reached No. 1 on Google Play by 6 a.m. the following morning and held both positions through its first weekend, according to Mobile Index data dated August 31. Kiwoom Securities raised its target price for Com2uS to 50,000 won from 47,000 won and retained a buy rating, projecting daily average revenue of 1.5 billion won in the third quarter, with estimates of 960 million won for this year and 470 million won for next year. However, the title’s first-three-day average daily active users were 78,273, below comparable releases, leaving its long-term monetization and retention uncertain. Competition from upcoming titles and Com2uS’s weaker second-quarter results add to the challenge.

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