Nexon Records Operating Profit of 46.3 Billion Yen... 47% Increase YoY

Nexon continued its double-digit growth in the third quarter, achieving the highest performance ever recorded for a third quarter.

On the 9th, Nexon announced that it posted third-quarter sales of 120.3 billion yen (1.0913 trillion KRW, based on 907.4 KRW per 100 yen) and operating profit of 46.3 billion yen (420.2 billion KRW). These figures represent growth of 23% and 47%, respectively, compared to the same period last year.

Nexon explained that its sales exceeded its own forecasts thanks to stable performance from PC online steady sellers such as ‘FC Online,’ ‘MapleStory,’ and ‘Dungeon & Fighter’ in the third quarter, as well as growth in mobile live titles including ‘FC Mobile,’ ‘Prasia Jeongi,’ and ‘Blue Archive.’

By region, Nexon achieved meaningful results with double-digit growth rates not only domestically but also across China, Japan, North America and Europe, Southeast Asia, and other regions. In particular, sales in North America and Europe, where ‘Dave the Diver’ received favorable reviews, increased by 78% compared to the same period last year.

In China, ‘Dungeon & Fighter’ received positive responses to its large-scale summer update and National Day update, and thanks to the performance of ‘MapleStory M,’ which was released in August, sales grew 22% year-on-year, meeting forecast levels. In Japan, sales rose 12% year-on-year as ‘Blue Archive’ continued its success.

Nexon will continue its challenge for sustained growth in the fourth quarter with new releases across various genres. The first-person team-based shooting game ‘The Finals’ recently recorded 7.5 million cumulative users during its cross-platform open beta test. It drew a strong response from global users, ranking third in most-played games and first in wishlists on the PC game platform Steam, with a peak concurrent user count of approximately 270,000.

Additionally, various new titles are set to be released, including ‘Jin Sangokumusou M,’ the first Korean mobile game officially licensed for the ‘Jin Sangokumusou 8’ IP, which was originally released by Koei Tecmo Games in Japan.

Owen Mahoney, CEO of Nexon, said, “We expect to close this year with seven consecutive quarters of double-digit sales growth. The Finals, which is scheduled for release within the year, recently completed a successful open beta test, raising expectations. We will continue to secure growth momentum by adding an exciting lineup of new titles such as Arc Raiders, First Descendant, and Embark Studio’s creative platform to the stable performance of our live titles.”

Meanwhile, on the 9th, Nexon’s board of directors appointed Lee Jung-heon, CEO of Nexon Korea, as the company’s new CEO. The new CEO is expected to be officially appointed through related procedures such as the shareholders’ meeting and board meeting in March next year.

In addition, Nexon announced that, with board approval, it will begin a share buyback program of 30 billion yen (approximately 272.2 billion KRW) from November 9 until February 16, 2024.