SOOP Operating Profit Falls 59.9% to 14.522 Billion Won in Third Quarter
Key Facts
SOOP said on October 30 that consolidated revenue totaled 105.687 billion won in the third quarter of 2026, down 16% year over year, while operating profit fell 59.9% to 14.522 billion won. Net profit was 10.583 billion won, down 64% from the same quarter a year earlier, according to figures reported by Newsis and Hansbiz. By contrast, revenue improved 1.8% and operating profitability rose 15% from the second quarter. The divergence between the annual and quarterly comparisons reflects weakness in the platform’s revenue over the year, despite an advertising recovery and a smaller drag from some costs incurred in the previous quarter. Higher operating expenses also weighed on the company’s annual results.
Platform revenue was the main source of the decline, falling 21.3% year over year to 66.125 billion won in the third quarter. The company attributed the drop to lower streaming activity among some major teams and the departure of some streamers. It said these developments reduced revenue from the “donation economy,” which includes donations and subscriptions. The decline puts the platform’s core business at the center of the annual revenue drop. At the same time, advertising figures showed quarterly improvement that helped lift total revenue from the second quarter.
Advertising revenue rose 35.4% from the second quarter to 36.8 billion won. Supporting activities included gaming events, brand campaigns and field marketing projects for companies. SOOP said it plans to respond in the fourth quarter to a return in activity among major streamers and seasonal demand for brand marketing. Those are two areas the company aims to capitalize on after the annual decline in platform revenue. It also plans to expand its reach among users through gaming and sports content and collaboration with external partners.
Operating expenses totaled 91.164 billion won, up 1.7% from the same period a year earlier. Fees for broadcast rights and other payments rose 43.5%, while advertising fees increased 12%. Depreciation expenses for tangible and intangible assets climbed 22.5%. These increases coincided with a 59.9% annual drop in operating profit, adding pressure on profitability alongside weak platform revenue. On a quarterly basis, the company said the 15% improvement in operating profit also benefited from the reduced impact of exceptional expenses incurred in the previous quarter.
SOOP shares closed at 37,100 won on October 30, up 2.91% during the session. The results were announced on the same day, but the market data provided do not establish that the share move was a response to them, as the announcement came after the market closed. For the fourth quarter, the company said it would address the return of activity among major streamers and seasonal demand for brand marketing. Its plan also includes expanding its reach through gaming and sports content and external partnerships. Attention will focus on the impact of these initiatives on platform revenue, advertising and profitability in coming periods.