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Krafton's Q3 Triumph: Mobile Magic Fuels $343.5M Revenue

In the third quarter of 2023, Krafton proudly revealed a significant revenue milestone, reaching ₩450.3 billion ($343.5 million). This marked a notable 16.3% increase from the previous quarter and a solid 3.8% rise from the same period last year, according to the company's latest quarterly report.

Mobile gaming emerged as the powerhouse, contributing 68.6% of the total revenue, amounting to ₩309.1 billion ($235.8 million). PC and console followed with ₩121.3 billion ($92.5 million) and ₩12 million ($915,480), respectively.

Operating profit also witnessed impressive growth, hitting ₩189.3 billion ($144.4 million) at a margin of 42%. This showcased a remarkable 44% increase from Q2 and a notable 31% rise from Q3 2022.

In terms of net profit, Krafton achieved ₩211.6 billion ($161.4 million), showcasing a substantial 64.6% surge from the previous quarter and a commendable 6.6% increase from the same period in 2022.

Mobile Battlegrounds played a pivotal role in Krafton's revenue success. The resumption of Battlegrounds Mobile India, a tailored version of the popular game PUBG Mobile designed specifically for the Indian market, contributed significantly after a ten-month absence. Additionally, the continued triumph of PUBG Mobile, surpassing $10 billion in revenue in June, added to the company's robust financial performance.

CFO Dongkeun Bae attributed Krafton's steady growth to the ongoing potential of the PUBG: Battlegrounds IP. Looking ahead, the company aims to solidify its reputation by launching major new titles and highly anticipated games annually. Krafton plans to achieve this by aggressively expanding its pipeline through in-house game development and second-party publishing. Excitingly, Krafton has over 32 major titles scheduled for launch between 2024 and 2026, including Dark and Darker Mobile and Project Black Budget.

Source: adapted from an article by Lewis Rees, Staff Writer for Pocket Gamer

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