Pearl Abyss Reports Q1 Operating Profit of 1.1 Billion KRW, Down 78% Year-on-Year
Pearl Abyss announced on the 11th through its earnings report that it recorded consolidated Q1 2023 sales of 85.8 billion KRW, operating profit of 1.1 billion KRW, and net profit of 9.4 billion KRW. Sales and operating profit decreased by 6.1% and 78.8%, respectively, compared to the same period last year.
Overseas sales accounted for 77% of Q1 revenue. Sales by platform were 74% PC, 20% mobile, and 6% console.
'Black Desert' saw new and returning users increase by 330% and 430%, respectively, due to the update of the twin classes 'Usa' and 'Maegu'. This was the result of content updates including the introduction of the new region 'Achim-ui Nara' (Land of Morning), which faithfully captures the beauty of Korea.
Pearl Abyss plans to continue stable service of the Black Desert and EVE intellectual properties (IP) in Q2 while focusing on new game development. Black Desert is preparing for the global update of 'Achim-ui Nara' in June.
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Jo Seok-woo, Pearl Abyss Chief Financial Officer (CFO), said, "We will continue to strengthen the product life cycle (PLC) through stable live services of Black Desert and EVE," adding, "In the second half of the year, we plan marketing for new IPs alongside live games, and we will prepare thoroughly."
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