Yesterday Pearl Abyss held its earnings results presentation for the third quarter of 2020. Logging onto the call, my big concern was how the EVE IP, especially EVE Echoes, did in the third quarter. After skimming over the presentation, my next question was, "What happened to Black Desert?" The third question became the main concern of the financial analysts on the call: Crimson Desert.
First, a look at Pearl Abyss' overall revenue. Right off the bat the numbers don't look strong. Revenue declined 10.2% compared to the second quarter of 2020 and 11.7% from Q3 2019. Converted to U.S. dollars, Pearl Abyss experienced a drop of $12 million from the second quarter. The operating profit declined almost $10 million, or 20%, from the previous quarter. One bright spot was the net profit increasing 17.8%, or $3.8 million quarter over quarter, although that did represent a decline of 43.6% compared to the same quarter in 2019.