Kakao Games continues to post a loss in the first quarter, recording an operating loss of 25.5 billion won as revenue from existing live games fell and the company lacked new releases.

Kakao Games said on Wednesday that, on a consolidated basis, first-quarter revenue was 82.9 billion won and it posted an operating loss of 25.5 billion won. Revenue for the quarter fell 33 percent from a year earlier and 16 percent from the previous quarter.

By business segment, PC online game revenue rose 4 percent from a year earlier to 27.9 billion won. Mobile game revenue fell 43 percent to 55.0 billion won. Downward stabilisation in revenue from existing live titles and limited contributions from new releases affected first-quarter results.

Kakao Games aims to improve the completeness of its new-game lineup in the second quarter across various genres and platforms, laying groundwork to drive performance in the second half. It recently conducted a small focus group test for the 2.5D massively multiplayer online role-playing game (MMORPG) 'Project OQ' (tentative name), and plans to run a closed test in June for the big-budget online role-playing game (RPG) 'ArcheAge Chronicles'.

It also plans to roll out new titles sequentially across platforms including mobile, PC and consoles, such as the large-scale MMORPG 'Odin Q', the strategy adventure RPG 'Dungeon Arise', the open-world zombie survival simulator 'God Save Birmingham' and the subculture training simulation 'Project C' (tentative name).