Kakao Games Reports Q1 Revenue of 249.2 Billion KRW and Operating Profit of 11.3 Billion KRW

Kakao Games announced its financial results for the first quarter of 2023.

Kakao Games recorded sales of 249.2 billion KRW and an operating profit of 11.3 billion KRW in the first quarter. These figures represent a decrease of 6% and 73%, respectively, compared to the same period last year.

The mobile game segment posted sales of approximately 153.9 billion KRW, down about 13% year-on-year. The PC online game segment achieved sales of about 14.1 billion KRW, a decrease of around 4% compared to the same period last year.

Other revenues (non-gaming sectors), including golf and sports leisure communication businesses, recorded approximately 81.2 billion KRW, up about 9% year-on-year.

In the first quarter, the mobile game segment reflected the performance of new titles such as "ArcheAge War" and "Eversoul." In the PC online game segment, the 10th-anniversary event performance of "ArcheAge," which opened a new server at the end of last year, had an impact.

"ArcheAge War," released at the end of March and only partially reflected in the first quarter sales, quickly secured top positions by ranking 1st and 2nd in sales on the two major markets, maintaining steady popularity. "Eversoul," launched in early January, received favorable reviews for its solid gameplay involving character collection and development, ranking high in sales charts.

Kakao Games plans to further strengthen its competitiveness from the second quarter by launching new titles of various genres in the global market and expanding the market for existing hit games.

Starting with the launch of its flagship intellectual property (IP), "Odin: Valhalla Rising," in the Japanese market in June, Kakao Games will sequentially unveil diverse new titles including ▲Ares: Rise of Guardians ▲Gadis Order ▲Bora Battle 6 to 10. In the fourth quarter, "Odin: Valhalla Rising" will be introduced to the North American and European markets, and "Eversoul" will be launched in Japan, implementing the "Beyond Korea" strategy.

Jokyehyun Cho, CEO of Kakao Games, said, "Kakao Games has continuously demonstrated strong performance across various genres, from 'Odin,' 'Uma Musume,' and 'Eversoul' to 'ArcheAge War,' while simultaneously internalizing service capabilities. Alongside solid service of existing businesses, we will continue to expand our own IPs in the mid to long term and present a high-quality game lineup to leap forward as a leading global game company."

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