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Photo=Kakao Games |
[Alpha Biz= Paul Lee] Kakao Games has announced a sharp decline in earnings for the past year, primarily due to the absence of major new game releases and the impact of non-gaming subsidiaries' performance on its financial results.
According to Tuesday’s regulatory filing, Kakao Games’ 2024 operating profit fell 91.3% year-over-year (YoY) to 6.5 billion KRW, marking a significant downturn.
Revenue: 738.8 billion KRW, down 27.93% YoY
Net loss: 121 billion KRW, with reduced deficit compared to the previous year
In Q4 2024, the company posted an operating loss of 6.3 billion KRW, reversing from an operating profit of 14.1 billion KRW in Q4 2023. The quarterly revenue was 160.1 billion KRW, while the net loss reached 102.3 billion KRW.
Kakao Games attributed the downturn to the exclusion of Sena Technologies from its consolidated results following its stake sale, as well as business reductions in Kakao VX, both of which were reflected in discontinued operations from Q3 2024 onward.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
