Crimson Desert has propelled Pearl Abyss's first-quarter earnings to soar over fivefold, reaching $220.6 million

In the first quarter, Pearl Abyss, a South Korean gaming company, witnessed a significant increase in operating revenue, reaching ₩328.5 billion (approximately $220.6 million), marking a 419.8% rise from the prior year. This growth was largely attributed to the launch of Crimson Desert on March 19.

The company's operating profit saw a dramatic climb to ₩212.1 billion ($142.5 million) from ₩7.9 billion ($5.3 million) in the previous year, propelled by effective marketing strategies and boosted earnings.

Net profit also experienced a substantial increase, reaching ₩170 billion ($114.2 million) from ₩7.7 billion ($5.1 million) in the same period the previous year.

Crimson Desert was a major revenue driver, generating ₩266.5 billion ($179.1 million) with an equal distribution of sales between console and PC platforms.

It was noted that for console sales, revenue is calculated after subtracting platform fees, while PC sales are recognized net of taxes on user payments.

The majority of the operating revenue, 81%, came from North America and Europe, followed by Asia with 13%, and Korea with 6%. Over 80% of Crimson Desert’s sales occurred in North America and Europe.

Following the release of Crimson Desert, Pearl Abyss saw a 31% rise in console revenue compared to the previous quarter, with PC accounting for 59% of all revenue, consoles 38%, and mobile platforms 3%.

The Black Desert series maintained stable performance, bringing in ₩61.6 billion ($41.4 million) sequentially.

Pearl Abyss projects their operating revenue will be between ₩879 billion ($560.4 million) and ₩975.4 billion ($665.2 million). For Crimson Desert alone, expectations for operating revenue range from ₩644.1 billion ($432.6 million) to ₩734.8 billion ($493.2 million).

There is an anticipation of decreased Crimson Desert revenue in the next quarter due to upfront package sales, though ongoing updates and patches are expected to sustain its market performance.

The company plans to extend the reach of Crimson Desert through expansion to additional platforms and new downloadable content.

In the pipeline are two new projects: DokeV, in the pre-production phase, and Plan 8, which is being conceptualized. Pearl Abyss aims to launch new games every two to three years.

Recently, Pearl Abyss transferred ownership of Fenris Creations (formerly CCP Games) back to its CEO for $120 million.

The acquisition of this Icelandic game developer occurred in 2018, with Pearl Abyss purchasing it for $225 million in cash in addition to $200 million linked to performance incentives.

Fenris Creations assured that this change would not entail any restructuring or job cuts, and Pearl Abyss has expressed its intent to remain open to future collaboration possibilities.