Kakao Q2 2024: Profits nosedive as ArcheAge 2 faces another potential delay

The second quarter for fiscal year 2024 has ended up being a pretty awful one for Kakao Games. The latest earnings summary confirms that the publisher and developer was hit with a massive drop in operating profit, falling by just over 89 percent to 2.8B won ($2.03M), while revenue also fell by 13 percent, even as PC gaming revenue rose by 36 percent from the same time last year.

The report rests blame on a lack of new games and a drop in long-term subscribers for its existing games for the flagging numbers, while the PC gaming portion of its business was mostly propped up by PUBG. As a result, Kakao is doubling its efforts to get new titles pushed forward, including plans for three new console game reveals at this year’s Gamescom and the projected early access release of Path of Exile 2 in Q4 of this year.

What’s also of note from this earnings call is another potential delay to ArcheAge 2: The report still has a projection of the MMORPG landing sometime in 2025 much like last year’s report, but during its earnings call, Kakao stated that the game could arrive sometime late 2025 or early 2026; we see on the earning release slides that it will arrive after Chrono Odyssey, which currently is projecting a launch sometime in the third quarter of 2025.