Kakao Games Third Quarter Results Reach Record High Thanks to Success of “Odin”

South Korean company Kakao Games Corp. achieved record third quarter profits due to the resounding success of its first in-house label “Odin: Valhalla Rising” which strengthened its results and results.
The game unit of nationwide chat platform giant Kakao Corp., which went public in September last year in a regulatory filing on Wednesday, reported consolidated operating profit of $ 42.7 billion. won ($ 36.13 million) for the July-September period, up 427.5% from three months ago. and 101.3 percent from a year earlier. The figure is below the market consensus of 50.1 billion won in revenue compiled by Yonhap Infomax by 14.7%.
Revenue reached 466.2 billion won, jumping 260% in a quarter and 209.7% in a year. Net profit grew an impressive 11,340.7% quarter-on-quarter and 64.44% year-on-year to 44.3 billion won.
![[Source: Kakao Games Corp.]](https://i1.wp.com/file.mk.co.kr/meet/neds/2021/11/image_readmed_2021_1042671_16359210654837450.jpg)
[Source: Kakao Games Corp.]
Kakao Games set all-time highs in operating revenue and revenue as sales of its hit multiplayer online role-playing game (MMORPG) released in June were reflected in the third quarter statement, the company explained. .
The company’s mobile games division achieved 410.5 billion won in sales, up 358.7% from a year ago thanks to the success of “Odin” and other mobile titles like “Friends Shot “and” World Flipper “.
Its online PC gaming segment raised 17.9 billion won, down 59.1% year-on-year due to the delayed release of new titles.
Kakao Games has a pipeline full of new games for the months to come. The company is set to bring “Uma Musume: Pretty Derby” to Korea next year and is expected to release new games “Goddess Order”, “Eversoul” and “Dysterra”.
Shares of Kakao Games closed up 3.01% to 89,000 won on Wednesday.
By Lee Soo-min
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