Pearl Abyss is showing a sharp drop of over 20% in early trading on the 13th. This seems to be due to consecutive losses in the second quarter and the delay in the launch of its anticipated title "Crimson Desert."
As of 9:14 a.m. on that day, Pearl Abyss is trading at 30,950 won, down 8,150 won (20.84%) from the previous trading day.
Pearl Abyss announced that it recorded sales of 79.6 billion won, an operating loss of 11.8 billion won, and a net loss of 22.7 billion won in its second-quarter earnings release. Not only did the performance show weakness compared to the previous quarter, but it also indicated consecutive losses for the second quarter. The net loss reflects losses from foreign exchange translation due to currency fluctuations.
Following weak performance in the second quarter, the launch of its next project has also been delayed, compounding the bad news. The launch of "Crimson Desert," which was originally scheduled for the fourth quarter of this year, has been pushed to next year. Heo Jin-young, CEO of Pearl Abyss, said during the earnings conference call, "Due to issues like collaboration with partners, we inevitably had to postpone the launch of Crimson Desert to the first quarter of next year."