Krafton reports 3% rise in Q1 2023 revenues to $408 million, PUBG contributed 33%

Published on:

South Korean game development studio and publisher Krafton recently released its financial results for Q1 2023, reporting a 3% year-on-year increase in sales to $408 million.

It is not surprising given the recent growth in the global gaming population. While the operating profit was down by 10% sitting at $214 million, net profit increased to $202 million, an 11.6% year-on-year growth.

Sales for their most popular game PUBG grew 68% year-on-year on both PC and consoles along with contributing a whopping 33% of the company’s total quarterly revenue. Krafton labels the success of the game to the recently added map-making feature.

Players can use this feature to make their own customised maps and share it in the community. The game also celebrated its sixth anniversary in March and is still among the most popular online games.

The report said that the company is planning to develop and publish more quality games as well as making minority stake investments. “The company has plans to form a virtual organization to better support the 24 project pipelines under development within its ecosystem,” the report added.

Krafton India has also been making some big moves in recent days. The company recently released two new games, Road to Valor Empires in the Indian market along with a test release for Defense Derby.

Both are quite different from all other Krafton games players have seen like PUBG or BGMI but are performing well. Road to Valor Empires is a Real Time Strategy (RTS) game while Defense Derby is a Tower Defense (TDS) game.

The company also established its first studio in Canada back in February. The studio is currently working on a game called ‘The Bird That Drinks Tears’, adapted from a fantasy novel by Yeongdo Lee.