Pearl Abyss, facing consecutive losses in the second quarter, postponed the release schedule of ‘Crimson Desert,’ initially promised for the fourth quarter of this year, to the first quarter of next year, causing its stock prices to plummet.
As of 9:50 AM on the 13th, Pearl Abyss is trading at 29,975 KRW, down 9,125 KRW (23.33%) from the previous day. During the trading session, the stock price fell sharply by 23.53% to 29,900 KRW.
The delay in releasing the upcoming game, combined with poor second-quarter performance, is interpreted as worsening investor sentiment.
On the same day, Pearl Abyss announced a provisional operating loss of 11.8 billion KRW for the second quarter on a consolidated basis, increasing from a loss of 5.8 billion KRW in the same period last year. Sales were recorded at 79.6 billion KRW, a decrease of 2.7% compared to the same period last year. The company also reported a net loss of 22.7 billion KRW, turning to a deficit.
Additionally, the anticipated release of ‘Crimson Desert,’ expected to drive a rebound in performance, has been postponed to the first quarter of next year.
In a Q&A session addressing the second-quarter results, Pearl Abyss CEO Jin-young Heo stated, “The release of ‘Crimson Desert’ is delayed due to factors such as voice work, console certification, and coordinating schedules with partner companies, causing it to be postponed by one quarter from the initially disclosed timeline.”
CEO Heo added, “Internally, we have decided on a launch date in the first quarter of next year. Given the change in launch timing, we will announce the release schedule at a more suitable time based on business judgment, rather than at Gamescom.”