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Shift Up Achieves Record Revenue in Q2 2024

Solomon Thompson by Solomon Thompson
August 18, 2024
in News, PS5
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Shift Up’s Stellar Blade Achieves Record Revenue in Q2 2024
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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.

Shift Up’s Stellar Blade Achieves Record Revenue in Q2 2024

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.

Tags: Shift UpStellar Blade
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Solomon Thompson

Solomon Thompson

Solomon is a full-time student who loves gaming and writing about it. He also enjoys lifting weights and always makes sure to finish a book when he has the time.

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