Kakao Games (KOSDAQ: 293490) reported its 4th quarter and annual results for 2022 on February 8th.
The company reported total revenue of KRW 1,147.7 billion, an increase of 13% year-on-year, and an operating profit of KRW 177.7 billion, an increase of 59% year-on-year.
However, in Q4 2022, the company recorded a slight decline in revenue, reporting KRW 235.7 billion and an operating profit of KRW 10.8 billion, down 18% and 76% year-on-year, respectively.
Kakao Games attributes its success to the continued performance of its existing live games, such as ‘Odin: Valhalla Rising,’ and the successful launch of new games, such as ‘Uma Musume Pretty Derby.’
Growth in areas other than games, such as Kakao VX and Sena Technology, also contributed to the company’s strong financial performance.
In 2023, Kakao Games aims to expand its global reach, launch new games in various genres, and strengthen its external growth by securing its intellectual property and developing its global pipeline.
The company plans to release several new games, including the collectible RPG ‘Ever Soul,’ the large-scale MMORPG ‘ArcheAge WAR,’ the near-future concept MMORPG ‘Ares: Rise of Guardians’ and the side-scrolling action RPG ‘GODDESS ORDER.”
In addition, the company plans to expand the reach of its existing games, such as ‘Odin: Valhalla Rising,’ to new markets, including Japan, North America, and Europe. Kakao Games also intends to secure its future growth by expanding its blockchain ecosystem and publishing blockchain games in the global market.
Kakao Games CEO Gye-Hyun Cho said the company plans to introduce well-made and competitive content to a broader audience, domestically and globally, in 2023.
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