AMSTERDAM, NETHERLANDS. - Nov. 11, 2022 - KRAFTON, Inc. recently shared its preliminary earnings announcement for Q3 2022. The South Korean creators of the PUBG: BATTLEGROUNDS posted 433.8 billion KRW ($320.4 million USD) in revenue during Q3 2022 according to consolidated financial statements in accordance with the Korean International Financial Reporting Standard (K-IFRS). As a whole, Q3 2022 revenue was up 2% QoQ and net profit was up 17% QoQ at 226.4 billion KRW ($167.2 million USD). For additional Q3 2022 earnings details, please see below:
SUMMARY OF Q3 2022 EARNINGS DETAILS:
- Revenue: 433.8 billion KRW / $320.4 million USD (+2% QoQ)
- Operating Profit: 140.3 billion KRW / $103.6 million USD (-14% QoQ)
- Net Profit: 226.4 billion KRW / $167.2 million USD (+17% QoQ)
CONTRIBUTING FACTORS
PUBG: BATTLEGROUNDS sales in Q3 2022 grew due to the sustained inflow of new users since the game transitioned to a free-to-play business model in January 2022. PUBG: BATTLEGROUNDS on PC saw its highest sales numbers since 2019, increasing 48% QoQ to 131.1 billion KRW ($96.8 million USD). Additionally, PUBG: BATTLEGROUNDS on consoles saw sales increase 22% QoQ and 133% YoY. The game’s success was propped up by strong content updates that included the release of the new Deston map, Workshop content and supercar collaborations with McLaren Automotive. The rise in the game’s global popularity drove strong increases in traffic in North America and other Western regions, especially.
PUBG MOBILE recorded 282.4 billion KRW ($208.6 million USD) in sales for Q3 2022, which was lower by 12% QoQ and 26% YoY. PUBG MOBILE’s in-game concert with BLACKPINK and the release of its new map, NUSA, were the primary drivers of attention during Q3 2022. Moving forward, KRAFTON aims to draw in new users by providing a lightweight build of the game to attract players on lower-end mobile devices. Additionally, the company has plans to collaborate with international soccer players and supercar brands to attract additional global audiences to the game. Finally, KRAFTON is continuing its efforts to resume services for BATTLEGROUNDS MOBILE INDIA (BGMI) and will continue investing in the Indian games market.
LOOKING FORWARD
On Dec. 2, 2022, KRAFTON will release The Callisto Protocol, Striking Distance Studio’s next-generation survival horror game. Following the game’s strong showing at Gamescom 2022 and the recent release of positive press preview stories, anticipation from the global gaming audience continues to grow.
Furthermore, KRAFTON continues to invest in its development and service capabilities to ensure a steady pipeline of premium titles. The company announced plans to acquire Swedish studio Neon Giant (The Ascent), which is currently working on an open-world FPS game. KRAFTON also plans to establish a major studio in Canada to lead development of The Bird That Drinks Tears project. Additionally, the company has a number of high-quality console and PC titles in active development across various genres, including Project Black Budget (PvPvE hardcore looter shooter), Project Roam (multiplayer PvPvE shooter) and the next Subnautica game (adventure).
BREAKDOWN OF Q3 2022 PERFORMANCE RELATIVE TO PREVIOUS PERIODS
| Earnings (Q3 2022) |
Earnings (Q2 2022) |
Variance (QoQ) |
Earnings (Q3 2021) |
Variance (YoY) |
|
| Revenue | 433.8B KRW | 423.7B KRW | +2% | 521.9B KRW | -17% |
| Operating Profit | 140.3B KRW | 162.3B KRW | -14% | 195.3B KRW | -28% |
| Net Profit | 226.4B KRW | 194B KRW | +17% | 178.3B KRW | +27% |
▲Table: KRAFTON’s Q3 2022 (preliminary) earnings on a consolidated basis.
For the latest information on KRAFTON, please visit www.krafton.com. For more information, please visit the KRAFTON press room.
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About KRAFTON, Inc.
KRAFTON, Inc. is a collective of independent game development studios brought together to create innovative and engaging entertainment experiences for gamers across the world. The company consists of PUBG Studios, Bluehole Studio, Striking Distance Studios, RisingWings, Dreamotion, and Unknown Worlds, each with its own unique expertise.
KRAFTON is responsible for premier entertainment properties including PUBG: BATTLEGROUNDS, NEW STATE MOBILE, The Callisto Protocol, Moonbreaker, TERA, and ELYON. As a technology-driven company that boasts world-class capabilities, KRAFTON seeks to expand its areas of business beyond games to multimedia entertainment and deep learning. For more information about KRAFTON, please visit https://www.krafton.com.