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(Source=KRAFTON) |
[Alpha Biz= Reporter Kim Minyoung] On the 13th, SK Securities upgraded Krafton's target price to 330,000 won, citing an impressive earnings surprise. According to SK Securities, Krafton's Q2 and Q4 results showed substantial growth, with revenue increasing by 82.7% year-on-year to 707 billion won and operating profit rising by 152.6% to 332.1 billion won. This performance exceeded expectations, despite the traditionally weaker season for the gaming industry.
Platform-specific figures revealed that PC revenue rose by 63.5% to 191.9 billion won, mobile revenue surged by 104.2% to 499.9 billion won, while console revenue decreased by 53.9% to 8.8 billion won. The increases in PC and console metrics were attributed to significant updates and improvements, such as the Rondom map update, which led to over a 40% rise in MAU and a 130% increase in paying users. Mobile growth was driven by strong performance of PUBG M's weapon skins and localized marketing for BGMI. Despite rising marketing and development costs, operating expenses only increased by 5.5% from the previous quarter, partly due to a 9.7% reduction in app fees.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
