Report: Epic Games banks $3B profit for the year

CARY — Cary-based Epic Games, which saw its valuation leap to $15 billion on the heels of Fortnite, which became the world’s most popular game, made $3 billion in profits this year, according to a report on TechCrunch.

Citing an unnamed source “With knowledge of the business,” TechCrunch noted the company has not disclosed revenue figures for its massive hit. The game, which can be downloaded free, makes money selling in-game digital items.

The Wall Street Journal reported earlier this year the company has a $15 billion valuation.

It closed a $1.25 billion equity round from marquee investors such as KKR, Kleiner Perkins and Lightspeed in September.

It’s first investment came from China’s Tencent, which makes the app WeChat and game firm in its own right, in 2012 invested $330 million in exchange for a 40 percent stake in the business.

Back then, Epic was best known for Unreal Engine, the development platform that it still operates, and titles like Gears of War.

Epic CEO Tim Sweeney said in an interview that the Chinese investment allowed the company to focus on freemium games rather than boxed titles, a move that led to its growth path.