Miguel Cordon · · 1 min readVNG targets $393.3m in net revenue for 2023
Photo credit: VNG
VNG Corporation, a Vietnamese tech giant, said it aims to hit 9.28 trillion dong (US$393.3 million) in net revenue this year. This marks a 19% increase from the 2022 figure.
This was announced at the annual general meeting of shareholders held earlier today.
The company also expects its net loss for the current year to drop by 63%, reaching around US$24.2 million. It recorded a net loss of US$56 million in 2022.
VNG was founded in 2004 as VinaGame. Gaming still contributes about 70% to 80% of its total revenue. The remaining comes from social media (Zalo), financial services (ZaloPay), and cloud services (VNG Cloud).
The Vietnamese company said it is “actively exploring opportunities” for its game publishing arm, VNG Games, in overseas markets. This business unit also recently launched a publishing base in Taipei.
VNG started trading on the Hanoi Stock Exchange’s Unlisted Public Company Market in January.
See also: Analyzing VNG’s surprise listing and prospectus
Currency converted from dong to US dollar: US$1 = 23,650.00 dong.
Editing by Thu Huong Le and Dhania Putri Sarahtika
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