Krafton's Q3 revenue grows 11.6% as operating profit falls 35.5% on PC decline
Published 10 Nov 2026 · Games Atlas Editorial · Financial Results · Companies: KRAFTON
Games Atlas summary: Krafton's Q3 2026 revenue rose 11.6% YoY to ₩971.4 billion ($725.9 million). Operating profit fell 35.5% to ₩225 billion ($168.1 million), missing consensus of ₩272.6 billion. PC revenue dropped 32.5% to ₩238.9 billion while mobile revenue grew 3.2% to ₩504.3 billion. Krafton posted a ₩64.1 billion net loss driven by FX losses and Gamescom marketing spend.
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Games Atlas — Games Industry Intelligence (2026). Krafton's Q3 revenue grows 11.6% as operating profit falls 35.5% on PC decline. Published 10 Nov 2026. https://gamesatlas.app/article/kraftons-q3-revenue-grows-116-as-operating-profit-falls-355-on-pc-decline
Mobile stability offsets a sharper PC decline
- Mobile revenue rose 3.2% to ₩504.3 billion, lifted by Naruto and Ferrari IP collaborations.
- PC revenue fell 32.5% to ₩238.9 billion as the number of paid content items dropped.
- Average PUBG PC traffic declined only 7%, Eugene Investment & Securities found, signaling the user base held.
- "The initial sales boost from Subnautica 2 in the previous quarter faded, and compared with the same period a year ago - when collaborations with aespa, Bugatti, and G-Dragon were concentrated - the number of paid content items fell, leading to a bigger-than-expected drop." - Jung Eui-hoon, Analyst, Eugene Investment & Securities
Costs outpace revenue as AI investment continues
- Operating expenses rose 43% YoY to ₩746.4 billion, exceeding the quarter's revenue growth.
- Marketing costs climbed 50% to ₩65 billion on Gamescom participation.
- Krafton continues building Raon-1, its in-house LLM, under its self-described "AI-first" strategy.
- ADK advertising revenue fell 17% quarter-on-quarter on a weaker Japanese ad market.
Nine-month record contrasts with the quarterly miss
- Nine-month revenue reached ₩3.6 trillion, up 51% YoY, an all-time high for the period.
- Nine-month operating profit rose 14% to ₩1.1 trillion, also a record.
- Eugene Investment & Securities cut its target price to 280,000 won from 300,000 won but kept a buy rating.
- The brokerage cited Q4 collaborations with Bentley and Ive plus 2027's PUBG 10th-anniversary content plans.