Pearl Abyss Reports Operating Profit of 12 Billion KRW in Q3, Returns to Profitability

[Asia Economy Reporter Seungjin Lee] Pearl Abyss turned its operating profit positive in the third quarter of 2022.

Pearl Abyss announced on the 9th that its sales in the third quarter of this year reached 97.3 billion KRW, a 1% increase compared to the same period last year.

Operating profit, which had turned to a loss in the second quarter, returned to profit. Pearl Abyss's operating profit for the third quarter was 12 billion KRW, a 17.6% increase compared to the same period last year.

Pearl Abyss explained that the one-time cost of the employee stock grant (own stock program) paid in the previous quarter was removed, resulting in a turnaround to profit compared to the previous quarter.

Net profit for the period was 21.3 billion KRW, a 20.5% decrease compared to the same period last year.

Black Desert held offline events for all platforms in the third quarter, such as the ‘Heidel Banquet’ and ‘Voice of Adventurers (VOA)’, focusing on user management and communication-based operations. Overseas sales accounted for 82% in the third quarter, with platform shares of 77% for PC, 16% for mobile, and 7% for console.

Black Desert and EVE intellectual properties (IP) underwent large-scale content updates in the third quarter. Black Desert introduced ‘Awakening Drakania’ and ‘Solare’s Spear’, while EVE released an official Spanish version following the Korean version, increasing touchpoints with global users.

Pearl Abyss plans to further expand the enjoyment of game content through various and new update attempts starting with Black Desert ‘Abyss One: Magnus’ in the fourth quarter.

Additionally, offline events such as the ‘Calpheon Banquet’ and ‘VOA’ will be held for users both overseas in Amsterdam, LA, and domestically.

Joo Seok-woo, Pearl Abyss CFO, said, “We were able to continue good results through live services based on user communication in the third quarter,” adding, “We will do our best to prepare new IPs while steadily demonstrating live service capabilities in the fourth quarter.”