Sections

 Get your job in front of the right talentSearch our CV libraryUtilise the global reach of Gamesindustry.biz

Nexon posts its best Q3 ever thanks to mobile revenue surge

Mobile revenue up 140% thanks to The Kingdom of the Winds: Yeon, KartRider Rush+ and V4

MapleStory publisher Nexon just posted its best Q3 ever, with revenue up 52% year-over-year to ¥79.4 billion ($754 million).

Mobile game revenue accounted for 42% of the total, up 140% year-over-year thanks to three titles exceeding the company's expectations for the quarter: The Kingdom of the Winds: Yeon, KartRider Rush+ and V4.

PC games made up the remainder of the total with revenue up 20% year-over-year, driven by franchises across multiple markets including MapleStory, Dungeon&Fighter, Sudden Attack and FIFA Online 4 in Korea.

Though operating income was below outlook at ¥27.6 billion ($262 million), it was nonetheless a new record for Q3 operating income, up 13% year-over-year and driven by strong performance in Korea despite a ¥3 billion ($28 million) impairment loss.

Net income was also below outlook at ¥16.3 billion ($155 million) due to operating income underperformance and an ¥8.6 billion ($82 million) FX loss, primarily on U.S. dollar-denominated cash deposits.

Additionally, Nexon announced that its initiative to invest $1.5 billion in global entertainment companies is proceeding as planned, with the company having thus far invested ¥85.9 billion ($816 million) (54%) of its fund.

It was also added to the Nikkei Stock Average in October.

For Q4, Nexon expects revenue between ¥60.7 billion ($577 million) and ¥65.5 billion ($622 million), up 23% to 33% year-over-year.

It projects operating income of ¥12.3 billion ($117 million) to ¥16 billion ($152 million), and net income of ¥8.7 billion ($83 million) to ¥11.6 billion ($110 million).

For the record: This article has been corrected post-publication to show that Nexon was added to the Nikkei Stock Average, not the Nikkei Stock Exchange, in October.

 Get your job in front of the right talentSearch our CV libraryUtilise the global reach of Gamesindustry.biz

More stories

Nexon Q1 revenue up 7%, but warns of near-term challenges

MapleStory publisher says near-term results could be impacted by end of pandemic, decision to reveal loot box probabilities

By Jeffrey Rousseau

Nexon invests $874m in Bandai Namco, Konami, Sega and Hasbro

More investments to come as part of $1.5 billion initiative to support "overlooked and undervalued" entertainment firms

By James Batchelor

Latest comments

Sign in to contribute

Need an account? Register now.