Krafton sales mark all-time high in Q3, rising 59.7 percent

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Krafton sales mark all-time high in Q3, rising 59.7 percent

Published: 07 Nov. 2024, 18:36 Updated: 07 Nov. 2024, 19:18

PARK EUN-JEE
[email protected]

Krafton, Korea’s major gaming outlet best known for PlayerUnknown's Battlegrounds (PUBG), posted a better-than-expected third quarter financial results on Thursday with record-high sales.

The company’s sales jumped 59.7 percent to 719.3 billion won ($516 million) between July and September, overshooting the market consensus at 647 billion won, which was filed by market tracker FnGuide.

The figure marks an all-time high as the Seoul-based gaming publisher enjoyed sound growth of the flagship game in terms of traffic and sales.

Its operating profit rose 71.4 percent to 324.4 billion won in the quarter, higher than the market estimate of 254.2 billion won. Net profit, however, declined by 42.6 percent to 121.4 billion won due primarily to nonoperating losses related to foreign exchange rates.

“Various services based on the PUBG: Battlegrounds IP are showing remarkable growth in all areas, including sales and traffic,” Bae Dong-keun, Krafton CFO said in a statement.

“The AI technology that we have developed through continuous investment and research has entered the implementation stage and is ready to have a full-scale roll out through various services, including inZOI,” he said.

Cumulative sales through the third quarter stood at 2.09 trillion won, surpassing last year’s full-year sales at 1.9 trillion won. Cumulative operating profit also came at 967 billion won, higher than last year’s annual profit at 768 billion won.

BY PARK EUN-JEE [[email protected]]