Kakao Games posts 16,418% surge in Q2 net profit

Home > Business > Tech

print dictionary print

Kakao Games posts 16,418% surge in Q2 net profit

Uma Musume Pretty Derby, developed by Cygames and published by Kakao Games [KAKAO GAMES]

Uma Musume Pretty Derby, developed by Cygames and published by Kakao Games [KAKAO GAMES]

 
Kakao Games posted a 16,418 percent surge in its second-quarter net profit thanks to mobile games and sports businesses.
 
The Kakao subsidiary reported a 64-billion-won ($48.8 million) net during the April-to-June period, beating a market consensus of 59.8 billion won compiled by FnGuide.
 
Revenue was 338.8 billion won, up 162 percent on year but below the 354.6-billion-won analyst expectation. Operating profit came in at an all-time high 81 billion won, up 900 percent on year and higher than the 78.4-billion-won consensus.
 
Mobile games earned 213.1 billion won, 63 percent of the whole revenue.
 
The company cited Uma Musume Pretty Derby, the latest mobile game that was developed by Japan’s Cygames and published by Kakao Games, and the global release of online mobile game Odin: Valhalla Rising as the breadwinners.
 
Uma Musume, the racehorse nurturing game, topped both Google and Apple’s popular games charts within a day of its release on June 20.
 
Non-game revenue increased by 319 percent on year, coming in at 110.8 billion won. It came mostly from its subsidiary Kakao VX, which runs a golf studio rental service and digital home-training app.
 
“Kakao Games plans to present users with new content in various genres, spanning across mobile, PC and also blockchain games,” the company said in a press release.
 
The company will release first-person shooting game Dysterra in the fourth quarter. A Japanese version of Odin will come in the first quarter of next year.

BY YOON SO-YEON [yoon.soyeon@joongang.co.kr]
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)