Vietnam’s tech unicorn VNG returns to profit in Q2 on steady gaming growth
Vietnamese tech unicorn VNG Corp (UPCoM: VNZ) returned to the black in the second quarter of 2025, supported by robust gaming revenue and tighter cost management.
VNG posted a net profit of VND15 billion ($572,570), rebounding sharply from a net loss of over VND500 billion ($19.09 million) in the same period last year, according to its Q2 earnings report.
A VNG data center in Ho Chi Minh City. Photo courtesy of the company.
Net revenue rose 25% year-on-year to VND2.57 trillion ($98.14 million), while gross profit reached VND956 billion ($36.5 million), up VND329 billion ($12.6 million) from Q2/2024.
The company contributed VND168 billion ($6.41 million) to the state budget during the quarter, supported by VAT incentives for high-tech firms.
Gaming remained VNG’s core growth driver, with total bookings reaching VND1.93 trillion ($73.5 million) in Q2, 17% of which came from overseas markets.
As part of its global push, the company plans to spin off its gaming business into a subsidiary, VNGGames, a move first revealed by chairman Le Hong Minh during the firm’s AGM in June.
Meanwhile, Zalo, VNG’s flagship messaging app, continued to dominate the Vietnamese market with a 98% usage rate, according to the Vietnam Mobile App Popularity 2025 report.
VNG is also stepping up investment in AI as part of its “Three Pillars” strategy. In collaboration with Vietnam National University in Ho Chi Minh City, the company has committed VND25 billion ($954,300) to AI research and talent development.
Despite the Q2 profit, VNG projects a full-year net loss of VND620 billion ($23.8 million), though that would mark a 47% improvement from 2024. It targets a 2025 revenue of VND10.77 trillion ($413.15 million), up 16.2% year-on-year.
- Related News
- Read More
Southern Vietnam port partners with Chinese firms to expand logistics network
The Long An International Port in the southern province of Tay Ninh on Wednesday signed a cooperation agreement with SPG Bohaiwan Port and Bohwa Shipping Pte Ltd of China to expand its logistics network.
Companies - Thu, July 31, 2025 | 2:51 pm GMT+7
Consortium proposes $850 mln energy storage battery plant in southern Vietnam
A consortium of five international and Vietnamese companies has proposed investing in an energy storage battery plant in the Ho Chi Minh City-based Saigon High-Tech Park (SHTP), with total investment capital of $850 million.
Industries - Thu, July 31, 2025 | 2:35 pm GMT+7
World-class talent ‘absolutely central’ to success of Vietnam's international financial center ambition: Tony Blair Institute
Damian Hickey, regional director, South East Asia, Tony Blair Institute talks with The Investor on international investors’ interest in Vietnam’s dual-campus international financial center (IFC) model and suggests ways to attract world-class talent for the country’s IFC ambition.
Finance - Thu, July 31, 2025 | 10:53 am GMT+7
Vietnam retail major FPT Retail’s accumulated profit jumps by over $36 mln in H1
Vietnamese retail major FPT Retail’s undistributed post-tax profit rose nearly 2.7 times to VND1.5 trillion ($57.16 million) at the end of June, up VND955 billion ($36.39 million) from the beginning of this year.
Companies - Thu, July 31, 2025 | 10:00 am GMT+7
Super typhoon verifies claim management excellence of Vietnam’s leading insurer
PVI Insurance Corporation winning the “Outstanding Claims Management” category at the Country Awards for Excellence 2025 hosted by Insurance Asia News (Hong Kong) affirms its strong service quality, not only within Vietnam but also in the broader regional insurance community.
Companies - Thu, July 31, 2025 | 9:03 am GMT+7
New sellers on Amazon must seriously invest in branding: Lixibox exec
New sellers on Amazon should be prepared to invest in their business and view early mistakes as inevitable learning experiences, not reasons to quit, said Sao Lonsdale, CEO of Lixibox, a Vietnamese beauty brand.
Companies - Thu, July 31, 2025 | 9:00 am GMT+7
MBBank records 18% profit growth in H1, among top earners in Vietnam's banking system
Hanoi-based MBBank (MB) posted a pre-tax profit of VND15.89 trillion ($606.43 million) in H1/2025, up 18% from a year earlier and meeting half of its full-year target.
Banking - Thu, July 31, 2025 | 8:06 am GMT+7
Vietnam's leading developer Novaland divests from series of major projects
Novaland, a major real estate developer in Vietnam, said it had completed the transfer of a 49% stake in its subsidiary Gia Duc Real Estate Co. Ltd., in a deal worth nearly VND1.73 trillion ($65.98 million) in June.
Real Estate - Thu, July 31, 2025 | 8:00 am GMT+7
Two Vingroup subsidiaries to sign $180 mln contractor for commercial complex in Hanoi
Vietnam Exhibition Fair Center JSC (VEFAC), a unit of conglomerate Vingroup (HoSE: VIC), has secured board approval to sign a contractor agreement with fellow subsidiary Vincons Construction Investment and Development JSC to develop a cultural, service and commercial complex in Hanoi’s Giang Vo ward.
Real Estate - Wed, July 30, 2025 | 4:29 pm GMT+7
Vietnam's state utility EVN posts $314 mln in post-tax profit after long period of losses
State-owned giant Vietnam Electricity (EVN) made a remarkable turnaround in 2024, recording a post-tax profit of more than VND8.24 trillion ($314.2 million), ending a prolonged period of losses.
Companies - Wed, July 30, 2025 | 2:03 pm GMT+7
Masan’s beverage chain Phuc Long books nearly 64% profit growth on strong food sales
Phuc Long Heritage JSC, a beverage subsidiary of retail giant Masan Group (HoSE: MSN), posted a net profit of VND86 billion ($3.28 million) in the first half of this year, up 63.5% year-on-year, according to its parent firm’s financial statement.
Companies - Wed, July 30, 2025 | 1:51 pm GMT+7
Vietnam's pharma major Bidiphar achieves 60% of year's profit target after 6 months
Binh Dinh Pharmaceutical Medical Equipment JSC (Bidiphar) reported revenue of VND916 billion ($34.98 million) and pre-tax profit of VND202 billion ($7.71 million) in H1/2025, fulfilling 46% and 60% of the year's respective targets.
Companies - Wed, July 30, 2025 | 11:36 am GMT+7
Vietnam earns $3.7 bln from steel exports in H1, down 22.5%
Vietnam raked in $3.7 billion from exporting 5.66 million tons of steel in the first half of 2025, down 13% in volume and 22.5% in value year-on-year.
Economy - Wed, July 30, 2025 | 10:30 am GMT+7
Challenges mount for Vietnam’s Century Synthetic Fiber Corporation
Ho Chi Minh City-based Century Synthetic Fiber Corporation is facing a myriad of difficulties as it has failed to raise capital, while hundreds of billions of VND (VND100 billion = $3.82 million) in project-related debt near maturity.
Companies - Wed, July 30, 2025 | 9:11 am GMT+7
Vietnam’s Long Thanh may enter global mega airports club next decade: report
Long Thanh International Airport, under construction in Vietnam’s southern province of Dong Nai, is expected to join global mega airports capable of handling at least 100 million passenger arrivals annually by the next decade, a report said.
Infrastructure - Wed, July 30, 2025 | 9:00 am GMT+7
Vietnam's agri major BAF enjoys skyrocketing 444% profit growth in Q2
BAF Vietnam Agriculture JSC, which owns the "Vegetarian Pig" brand, posted impressive business results in Q2/2025 amid a volatile pork market, with after-tax profit soaring 444% year-on-year.
Companies - Wed, July 30, 2025 | 8:00 am GMT+7
