Pearl Abyss Turns Operating Profit Positive in 3Q, "Fully Prepared for Black Desert Launch in China" (Update)

Jung Kyung-in, CEO of Pearl Abyss

[Asia Economy Reporter Buaeri] Pearl Abyss announced on the 10th that it recorded sales of 96.4 billion KRW and an operating profit of 10.2 billion KRW in the third quarter. Sales decreased by 18.5% compared to the previous year but increased by 8.9% compared to the previous quarter. Operating profit decreased by 74.8% year-on-year but turned positive compared to the previous quarter.

The company explained that it continued its global success with overseas sales accounting for 81% of total sales.

After the earnings announcement, Pearl Abyss revealed in a conference call that it plans to showcase various metaverse content in Dokkaebi. In August, Pearl Abyss presented a video of its new title, Dokkaebi, at Gamescom, Europe's premier gaming festival. Developed as an open-world action-adventure game, Dokkaebi has attracted domestic and international attention, surpassing 7 million views. Pearl Abyss CEO Jung Kyung-in said, "The metaverse world, where reality and virtuality are connected, will become a part of our daily lives," adding, "We are exploring collaboration possibilities with numerous global companies."

CEO Jung also disclosed plans to launch a game based on non-fungible tokens (NFTs). He stated, "We are considering related issues." Regarding the industry buzzword Play to Earn (P2E), he said, "Our subsidiary CCP Games is exploring various business opportunities," adding, "Since regulations vary by country and are rapidly changing, we will review related risks and share progress accordingly."

Pearl Abyss is also preparing to launch Black Desert Mobile in China. After receiving the publishing license (panho) for service in China, it began pre-registrations in August and is currently conducting technical tests.

Despite somewhat lackluster performance this year, Pearl Abyss is expected to make a significant leap next year. Securities firms forecast a substantial improvement in performance due to the release of the new title Red Desert and the launch of Black Desert Mobile in China. Pearl Abyss's sales are expected to surpass 1 trillion KRW next year, with operating profit increasing by 999% to around 350 billion KRW.

Joo Seok-woo, Pearl Abyss Chief Financial Officer (CFO), said, "We will strengthen live services for Black Desert and EVE and make every effort to successfully launch Black Desert Mobile in China," adding, "We will focus on developing new games and enhance global marketing to raise expectations."

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