Krafton achieves record-breaking quarter with over $500 million in revenue

• Krafton generated a record-breaking $513.4 million in revenue during Q3 2024
• The result marked its third consecutive quarter of record revenue

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PUBG publisher Krafton generated a record-breaking ₩719.3 billion ($513.4 million) in revenue during the third quarter of 2024, up 59.7% year-on-year.

Rising from ₩450.3 billion ($321.4 million) in Q3 2023, revenue was led by “meaningful traffic and monetisation” across all core products relating to PUBG.

The result marks three consecutive quarters of record revenue for Krafton, having added new themed modes to PUBG Mobile, considering “regional preferences” and focusing on new markets like the MENA region.

Revenue also rose by 1.7% quarter-on-quarter.

Revenue results

Of that total revenue, ₩425.4 billion ($303.6 million) can be attributed to mobile earnings, up 37.6% year-on-year and making this Krafton’s biggest platform of Q3.

PC followed at ₩274.3 billion ($195.8 million), up 126.1%, while console was considerably behind at ₩11.8 billion ($8.4 million) with a 1.7% fall.

Other platforms were attributed to ₩7.8 billion ($5.6 million) of the quarter’s total revenue, down 1.3%.

Strong revenue growth overall also fuelled a 71.4% year-on-year increase in operating profit, up to ₩324.4 billion ($231.5 million).

Net profit was just ₩121.4 billion ($86.6 million), however, down 30.1% from ₩211.6 billion ($151 million) in Q3 2023. Operating expenses were considerably lower at that time – at ₩261 billion ($186.3 million) in Q3 2023 versus ₩394.9 billion ($281.8 million) in Q3 2024.

In terms of net profit, this makes Q3 2024 the weakest quarter of the fiscal year thus far, with Q1 in the lead at ₩348.6 billion ($248.7 million).

Still, revenue and operating profit hit new records for Krafton this Q3 and the company is confident about an AI expansion coming soon.

“Various services based on the PUBG: Battlegrounds IP are showing remarkable growth in all areas, including sales and traffic,” said Krafton CFO DK Bae.

“The AI technology that we have developed through continuous investment and research has entered the implementation stage and is ready to have a full-scale roll out through various services, including inZOI.”

One of our Top 50 Mobile Game Makers, Krafton surpassed $1 billion in revenue in the first half of the year alone.