Pearl Abyss dropped its second quarter financial report today: The South Korean MMO company saw its revenues decline ever so slightly, down to 131.7 billion KRW (111 million USD), representing a drop of 1.1% since last quarter and 8.4% since last year. But of course, as we noted last quarter, last year saw the launch of Black Desert on console and mobile, so that’s a hard one to beat.
Interestingly, while Black Desert’s revenues declined YOY and QOQ, EVE Online improved its revenues significantly both to the quarter and to the year. Last quarter, we were confused by CCP Games CEO Hilmar Petursson suggesting the game was “going through a steep upward trend” – a trend that was not evident at the time either in the revenues or the playerbase estimates. At the time, we wondered whether Petursson was referring to April revenue and that we’d have more clarity in Q2, and here we are confirming that was indeed the case.
Another noteworthy bit here is that the western market continues its climb in terms of PA’s revenues: North America and Europe now represent 48% of the company’s revenue, more than double its percentage since this time last year. (Contrast this, for example, with NCsoft, where westerners account for only 4% of revenues this past quarter.)
The company’s presentation briefly notes that it’s got multiple games in the pipeline, including Crimson Desert, DokeV, and Plan 8, plus ongoing updates to Black Desert and Shadow Arena. EVE Echoes, of course, launched this morning, so we’ll see its initial successes reflected next quarter.
Pearl Abyss has already been in the news this week for wholesome reasons, including new benefits for employees – like pet insurance, birthday gifts, and cleaning services. Please come clean my house too, Pearl Abyss!