93.8% of Total Sales from Overseas Markets
Strong Performance Expected to Boost IPO Momentum
[Asia Economy Reporter Jin-gyu Lee] Krafton continued its sharp growth in the second quarter, thanks to the strong performance of 'Battlegrounds Mobile.'
According to Krafton's semi-annual report on the 17th, Krafton's second-quarter revenue reached 379 billion KRW, and operating profit for the same period was 161.2 billion KRW. Compared to the same period last year, revenue (199.4 billion KRW) approximately doubled, and operating profit (32.1 billion KRW) increased about fivefold.
Compared to the second-quarter operating profits of the 3N (Nexon, NCSoft, Netmarble), Krafton ranked third in the gaming industry, following Nexon (302.5 billion KRW) and NCSoft (209 billion KRW), and surpassed Netmarble (81.7 billion KRW).
On a cumulative basis for the first half of the year, revenue and operating profit were recorded at 887.2 billion KRW and 513.7 billion KRW, respectively.
By platform, mobile game revenue surged to 710.8 billion KRW in the first half of this year, up sharply from 157.3 billion KRW in the first half of last year. By region, Asian revenue grew rapidly from 317 billion KRW to 770.3 billion KRW.
Thanks to the success of Battlegrounds Mobile, overseas market revenue accounted for 93.8% of total revenue. Krafton stated, "Since its release in May 2018, Battlegrounds Mobile surpassed 20 million cumulative subscribers within two years and achieved 600 million global cumulative downloads. It continues to maintain worldwide popularity by offering differentiated content and diverse gameplay through continuous updates."
With strong performance, the ongoing initial public offering (IPO) is expected to gain momentum. Krafton said, "We plan to release new games utilizing the Battlegrounds intellectual property (IP)" and added, "We are developing various mobile and console games."
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