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Krafton Releases Q3 Reports; Generates Profit of $171.5 Million

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Krafton Releases Q3 Reports; Generates Profit of $171.5 Million-GadgetAny
PlayerUnknown's Battleground

The publisher of PlayerUnknown’s Battlegrounds, Krafton, which has its headquarters in Korea, recently announced the expansion of its studio network along with its 3rd quarter financial results.

According to the company, it had $328.5 million in revenue and $171.5 million in net profits, a 27% increase from the previous year. Additionally, Krafton disclosed its intentions to buy The Ascent developer Neon Giant and establish a new studio in Canada.

Key Highlights 

  • Revenue: $328.5 million, down 17% year-on-year (433.8 billion KRW)
  • Net profit: $171.5 million, 27% ( 226.4 billion KRW)

PlayerUnknown's Battleground

The 17% decline in revenues for the three months ended September 30 marks the lowest quarterly revenues since Q4 2020, when the publisher reported taking $328.5 million (433.4 billion KRW).The publisher reported taking $328.5 million for Q4 2020, so the 17% fall in revenues for the three months ended September 30 is the lowest quarterly revenues since that time (433.4 billion KRW).

Furthermore, it is a sharp drop from the record revenues it announced for Q1 2022, which came to $405.7 million at that time. But despite declining sales, net profit increased significantly.

The firm attributed a significant portion of its successful performance to the expansion of PlayerUnknown’s Battleground, with sales increasing throughout Q3 as a result of the continued use of new players who joined after the game’s January move to free-to-play.

Furthermore, it is a sharp drop from the record revenues it announced for Q1 2022, which came to $405.7 million at that time. But despite declining sales, net profit increased significantly.

PlayerUnknown's Battleground

The firm attributed a significant portion of its successful performance to the expansion of PlayerUnknown’s Battleground, with sales increasing throughout Q3 as a result of the continued use of new players who joined after the game’s January move to free-to-play.

Additionally, PC sales increased to their best levels since 2019, bringing in $99.4 million (131.1 KRW). Although Krafton does not provide revenue figures, it says that console sales are increasing 133% year over year.

While everything was going on, PUBG Mobile made $214.1 million, an increase of 26% (282.4 billion KRW), accounting for 65% of the entire company’s income. By offering a “lightweight build” of the game for users of less powerful smart devices, Krafton intends to expand on this.

The publisher also said it is “continuing efforts to resume services for Battlegrounds Mobile India, and will continue investing in the Indian games market.”

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Jozeph P

By Jozeph P

Journalism explorer, tech Enthusiast. Love to read and write.

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