CyberAgent FY2021 Third Quarter Earnings: Quarterly Transition by Business Segment

CyberAgent’s financial performance for the third quarter of fiscal year 2021 demonstrates a significant upward trajectory, primarily driven by explosive growth within the game business segment. The company’s total sales for the first three quarters of FY2021 reached 486,732 million yen, already nearing the total sales volume achieved in the entirety of FY2020. This growth is underpinned by a robust expansion in operating profit, which climbed to 77,513 million yen for the same nine-month period, reflecting a strong recovery and operational scaling compared to the previous fiscal year.

The game business serves as the primary catalyst for this financial momentum. Sales in this segment surged to 92,397 million yen in the third quarter alone, up from 29,954 million yen in the first quarter. Consequently, the operating profit margin for the game segment improved dramatically, reaching 47.9% in the third quarter, a substantial increase from the 3.8% recorded at the start of the fiscal year. This performance highlights the segment's high profitability and its critical role in the company’s overall earnings profile.

Conversely, the internet advertisement business remains a steady, high-volume contributor, maintaining consistent sales levels throughout the first three quarters of FY2021. The media business continues to operate at a loss, though it shows signs of improved efficiency, with operating profit margins narrowing from -41.3% in the first quarter of FY2020 to -19.2% by the third quarter of FY2021. These figures provide a comprehensive overview of CyberAgent’s diversified business model, illustrating a strategic shift toward high-margin gaming content while maintaining a stable foundation in digital advertising and ongoing investment in media infrastructure.