PUBG powers Krafton to record Q3 earnings

Krafton, the South Korean gaming giant behind the popular title PUBG: Battlegrounds, on Thursday posted record-breaking financial results for the third quarter of 2024, fueled by strong demand for its flagship game and ongoing investments in artificial intelligence.

The company reported third-quarter revenue of 719.3 billion won ($516.18 million) and an operating profit of 324.4 billion won, reflecting year-over-year increases of 59.7 percent and 71.4 percent, respectively. This strong performance brings Krafton’s total revenue for the first three quarters of the year to 2.092 trillion won, the company’s highest to date.

PUBG, Krafton’s flagship game, continued to attract players and boost earnings. The company rolled out new features and updates that have helped drive up engagement. On PC and console, a collaboration with Lamborghini in July generated PUBG's highest sales ever for a single in-game item.

Other updates, such as the “Hungers Left Behind” game mode and enhancements to the Taego map, helped push the game's peak concurrent players to 890,000, the highest since the game’s transition to a free-to-play model. On mobile, Krafton saw strong sales driven by themed game modes and improvements to its monetization approach.

Krafton is actively working to diversify its lineup with new games across a range of genres and platforms. Upcoming titles include inZOI, Dark and Darker Mobile, Subnautica 2, Project ARC, and Dinkum Together. Project ARC and Dinkum Together will be shown for the first time at G-Star, a major upcoming industry event in Korea.

The Krafton title Battlegrounds Mobile India continues to gain traction in the Indian market. To attract more users, the company has localized the game with support for regional languages and has hosted large-scale esports tournaments in the country. Krafton also plans to launch a localized version of the popular game Cookie Run in India, developed in partnership with DevSisters, set for release by the end of the year.

Krafton has invested heavily in artificial intelligence. The company has now begun implementing these AI tools in its games. For example, inZOI features an AI-powered “3D printer” function that allows players to customize in-game assets.

Krafton is also developing a new type of interactive character, called a “Co-Playable Character”, that can respond to players in real time more dynamically, and in a more human-like way, than traditional NPCs. Krafton plans to introduce this technology in PUBG and inZOI as part of its broader AI strategy.