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Kakao Games' Q2 net profit skyrockets over 165 times on 'Odin,' 'Musume' success

All News 09:55 August 03, 2022

SEOUL, Aug. 3 (Yonhap) -- Kakao Games Corp., the gaming unit of South Korean tech giant Kakao Corp., said Wednesday its second-quarter net profit skyrocketed over 165 times from a year earlier thanks to the success of its blockbuster mobile title "Odin Valhalla Rising" and "Uma Musume Pretty Derby," its latest Japanese licensed game published in May.

Kakao Games logged a net profit of 64 billion won (US$48.7 million) on a consolidated basis in the three months ending in June, compared with a 387 million-won net profit a year earlier, the company said in a regulatory filing.

Operating profit soared 10 times on-year to 81 billion won, and sales climbed 161.7 percent to 338.8 billion won.

The company attributed the robust growth to the popularity of "Odin," a massively multiplayer online role-playing mobile game launched in June last year, and especially its success in Taiwan after its local release in March.

Kakao Games also benefited from strong sales from "Uma Musume," which was developed by Japanese developer Cygames Inc. and published by the South Korean company in June.

The company said it has a slate of new releases lined up between the third quarter and the second quarter of 2023, which include "Birdie Shot," ArcheWorld" and "Dysterra." It also plans to release the North American version of "Odin" in the second quarter of next year.

This image provided by Kakao Games shows a promotional image for the Taiwanese version of "Odin Valhalla Rising." (PHOTO NOT FOR SALE) (Yonhap)


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