Highlights
- Krafton reported first-quarter revenue of 1.37 trillion won ($930.6 million), up 57% year-over-year, with operating profit of 561.6 billion won ($381.1 million) equal to 53% of its full-year 2025 operating profit.
- The PUBG franchise (which includes Battlegrounds Mobile India) crossed 1 trillion won ($678.6 million) in a single quarter for the first time.
- The company is leaning on India for second-quarter momentum, including a BGMI 5th anniversary update and an Indian Premier League cricket prediction feature for PUBG Mobile, alongside a fresh 100 billion won ($67.9 million) share buyback.
Krafton reported record first-quarter revenue of 1.37 trillion won ($930.6 million), a 57% jump from a year earlier, as its core PUBG franchise crossed 1 trillion won ($678.6 million) in quarterly sales for the first time. The franchise figure includes PUBG PC/Console, PUBG Mobile, Battlegrounds Mobile India (BGMI), and the Peacekeeper Elite technology service fee in China.
Operating profit climbed 23% year-over-year to 561.6 billion won ($381.1 million), while net profit rose 38% to 514.1 billion won ($348.8 million). First-quarter operating profit alone equals 53% of Krafton's full-year operating profit for 2025.
Mobile Sales Drive PUBG Growth in Middle East and China
Mobile revenue, which captures PUBG Mobile and BGMI, surged 32% to 702.7 billion won ($476.8 million). Management cited strong uptake of Ramadan-themed premium items across Middle Eastern markets and Lunar New Year demand from Chinese users of PUBG Mobile and Tencent-operated Game for Peace.
India remains a structurally important market for the company through BGMI, which Krafton publishes locally and has built out an esports circuit around. PC revenue rose 12.5% to 363.9 billion won ($246.9 million), supported by the new Xeno Point mode, which Krafton said recorded the highest concurrent users of any arcade mode in PUBG's history.
BATTLEGROUNDS MOBILE INDIA
Operating expenses rose 94% year-over-year to 809.9 billion won ($549.6 million), driven by one-off personnel costs and higher paid commissions. Personnel expenses climbed 86% to 276.1 billion won ($187.3 million).
Looking ahead, Krafton pointed to second-quarter PUBG content as the next leg of growth. On PC, the company is launching a PAYDAY collaboration mode. On mobile, BGMI will mark its fifth anniversary with a new in-game landmark, gilt-tier skins and a regional voice pack aimed at Indian players, while PUBG Mobile is rolling out an Indian Premier League cricket match prediction feature to deepen engagement during the IPL season. The company also said the early-access launch of Subnautica 2 later this year would extend the franchise's lifecycle. The Subnautica series has sold more than 18.5 million cumulative units and has held the top spot on Steam's wishlist since September 2025.
Krafton disclosed a joint venture with car-sharing firm Socar to develop autonomous driving services, which it will use to gather data for its physical AI research. Chief Executive CH Kim said an earlier partnership announced last quarter with Naver Cloud spinoff Nine Spaces remains in discussion with no further updates.
Krafton said it will buy back and cancel an additional 100 billion won ($67.9 million) in shares in the second quarter, after completing a 200 billion won ($135.7 million) buyback in the first. First-half shareholder returns will reach 399.6 billion won ($271.1 million), up 23% from full-year 2025.
