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.]

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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