Shift Up, the South Korean game developer, has reported record-breaking financial results for the second quarter of 2024, driven largely by the success of its latest game, Stellar Blade.
According to the company’s latest earnings release, Shift Up generated $48 million in revenue, marking a 65.4% increase compared to the same period last year. This achievement sets a new revenue record for the company.
Stellar Blade, which was released exclusively on the PlayStation 5, contributed significantly to this financial success. The game sold over 1 million copies within the first two months of its launch, bringing in $19 million in royalties. Despite the initial sales surge slowing down, the company noted that the game’s sales remain steady, and Stellar Blade has firmly established itself as a major global IP.
Shift Up’s operating profit also saw a substantial increase, rising by 49% year-over-year to $33.1 million. Net profit grew by 5.1% to $29.7 million. The company continues to generate significant revenue from Goddess of Victory: Nikke, which accounted for nearly 60% of the total revenue last quarter.
Moving forward, Shift Up plans to support Stellar Blade with additional content updates and a PC version currently in development. The company is also expanding its team to work on a new AAA action RPG, codenamed Project Witches.
