Kakao Games Q3 Revenue 150.5 Billion KRW... Highest Quarterly Performance (Update)

Photo by Namgung Hoon, CEO of Kakao Games

[Asia Economy Reporter Buaeri] Kakao Games recorded sales of 150.5 billion KRW and an operating profit of 21.2 billion KRW in the third quarter.

On the 4th, Kakao Games announced that it achieved its highest quarterly performance since its listing. Sales increased by 54% compared to the previous year, and operating profit grew by 178% year-on-year.

The mobile game sector achieved 89.5 billion KRW in sales. In particular, 'Guardian Tales,' officially launched in July in South Korea and over 230 countries worldwide, drove strong performance. Guardian Tales is Kakao Games' first game to fully launch mobile global service, surpassing 5.5 million cumulative registered users. A Kakao Games representative explained, "Meaningful results are emerging in South Korea, Taiwan, and Southeast Asia," adding, "We expect strong performance in the North American market, our main target."

The PC online game sector recorded sales of 43.9 billion KRW. Other sales, consisting of subsidiary Kakao VX and new business sales, reached 17.1 billion KRW due to increased golf demand. This represents a 14% increase year-on-year and a 7% increase quarter-on-quarter.

Kakao Games is preparing to launch the massively multiplayer online role-playing game (MMORPG) 'Elion' on the 10th of next month. Elion is a major PC online title developed by Krafton and serviced by Kakao Games. Next year, they also plan to release the mobile MMORPG 'Odin.'

Kakao Games stated, "We are continuously expanding each area by combining a powerful platform spanning PC online and mobile, solid publishing capabilities, and in-house development strength," adding, "We are securing new growth engines by advancing new business areas and developing golf and virtual/augmented reality (VR/AR) content, building a robust business capability."

With expectations for new titles like Elion, the securities industry forecasts Kakao Games' sales this year to increase by 29.5% year-on-year to 506 billion KRW. Operating profit is expected to grow by 146.4% to 86 billion KRW. Namgoong Hoon, CEO of Kakao Games, said during the conference call, "Since listing, we will make Kakao Games a more stable company with a long-term profit structure," and added, "We will pursue more aggressive and diverse strategies to grow into a global gaming company."

This content was produced with the assistance of AI translation services.