Shares of Krafton broke through the ₩300,000 level on the morning of the 4th. The 13.96% rise from the previous trading day is interpreted as a market reaction to first-quarter earnings that exceeded expectations.

On the 30th of last month, Krafton reported consolidated Q1 revenue of ₩1.3714 trillion and an operating profit of ₩561.6 billion. These figures represent year-on-year increases of 56.9% and 22.8%, respectively, with revenue reaching an all-time quarterly high.

The PUBG IP drove the performance. Q1 PC revenue reached 363.8–₩363.9 billion, up 12% year-on-year, while mobile revenue grew by over 30% to ₩702.7 billion. Analysts attribute this growth to promotions such as the re-release of Aston Martin skins, the supercar Apollo skin, and the 9th-anniversary event.

Securities firms have collectively raised their target prices for the stock.

NH Investment & Securities raised its target price by 14.28% and maintained a 'buy' rating. Analyst Ahn Jae-min projected that high revenue would continue throughout the year, noting that "2026 is following a pattern similar to the first quarter of 2024, when traffic saw a significant level-up."

Hana Securities also maintained a 'buy' rating while raising its target price from ₩420,000 to ₩460,000. Analyst Lee Jun-ho noted that "average concurrent users for PUBG PC in April exceeded 350,000, the highest level since the game went free-to-play."

Future momentum is also drawing attention. Krafton has announced the launch of the 'PAYDAY' mode on the 13th and plans to push for platformization through a UGC mode in the second half of the year. PUBG Mobile reportedly recorded its highest-ever revenue following the 'X-SUIT' update in April.

Shareholder returns are also being strengthened. In the first quarter, Krafton executed a ₩200 billion share buyback and a ₩99.6 billion capital reduction dividend; it plans to acquire and retire an additional ₩100 billion in shares in the second quarter.

Meanwhile, Krafton announced on the 30th of last month that it would participate in the establishment of 'APEX Mobility' (a ₩150 billion project), an autonomous driving entity promoted by Socar. By participating in a ₩65 billion capital increase by Socar, Krafton will become a major shareholder and also plans to invest separately in the new entity.