Nexon released its financial results for the third quarter, with revenue growing year over year but net income declining.
the numbers
For the three months ended September 30, 2024:
- Income: ¥135.6 billion ($874 million), up 12.7% year-on-year
- Net income: ¥27 billion ($174 million), down 23% year over year
The highlights
Nexon said its revenue for the third quarter grew but was “slightly below” its forecast, due to the negative impact of the exchange rate.
Dungeon & Fighter Mobile and The First Descendant were cited as contributing to the company’s revenue growth, but this was offset by declining revenue from the PC version of Dungeon & Fighter, MapleStory, and Wars of Prasia, which had performed well during the same period. last year.
Dungeon & Fighter Mobile’s growth was due to its launch in China last May, Nexon explained. The franchise as a whole grew 142% year-on-year as a result of the launch of Chinese mobile phones.
Looking at the revenue split, PCs accounted for ¥70 billion ($452 million) of Nexon’s total, and fell 18% year over year. Mobile rose to 64 billion yen ($413 million) and increased by an impressive 89% compared to Q3 FY24.
CEO Junghun Lee commented: “The third quarter reinforced our confidence in Nexon’s growth strategy. Over the coming quarters, we plan to continue investing in our long-term vision to achieve radical growth in our revenue and operating income by strengthening existing franchises. . and grow our intellectual property portfolio. This may temporarily impact the pace of our financial growth, but we know from our experience that this is a necessary step to create the next wave of dynamic growth.”
