Nexon has achieved record quarterly revenue, positioning the company to reach 4 trillion won in annual sales for the first time. For the third quarter, Nexon reported 1.23 trillion won (135.6 billion yen) in revenue and an operating profit of 467.2 billion won (51.5 billion yen), reflecting year-over-year growth of 13% and 11%, respectively.
“This strong performance reaffirms our confidence in Nexon’s growth strategy,” Nexon Japan CEO Lee Jung-hun said in a Nov. 12 conference call. He added that Nexon will focus on strengthening its established franchises and expanding its intellectual property (IP) portfolio over the coming quarters. “This may temporarily impact financial growth rates, but with 30 years of experience, we know this is a necessary step for dynamic, long-term growth.” Nexon previously set a goal of reaching annual revenue of 7 trillion won by 2027.
Nexon attributed much of its international growth to three key IPs—MapleStory, Dungeon Fighter Online, and EA Sports FC. Dungeon Fighter Online saw a 142% jump in year-over-year revenue following the May 21 release of its mobile version in China. Nexon plans to further expand this franchise with titles including The First Berserker: Khazan, Arad, and Project OVERKILL. MapleStory’s overseas revenue increased by 23%, while the EA Sports FC series posted a dip in Q3 revenue compared to last year. Nexon, however, expects the full-year results to align closely with last year’s by year-end.
Revenue in North America and Europe surged 93% from the previous year. Nexon said that 75% of revenue from its new title The First Descendant, launched in July, came from those regions. Third-quarter regional revenue broke down as follows: China at 42%, South Korea at 35%, North America and Europe at 13%, Japan at 4%, and other regions at 6%.
During the call, some analysts raised concerns about declining indicators for Dungeon Fighter Online’s mobile version in China. Lee dismissed these concerns, stating, “The mobile version of Dungeon Fighter Online in China is not structurally declining.” He explained that revenue and player numbers for mobile games typically stabilize over time and emphasized that current results are within anticipated ranges. He also underscored Dungeon Fighter Online’s leading position in the action RPG market in China.
Lee acknowledged, however, that the PC version of Dungeon Fighter Online in China and MapleStory in South Korea have faced challenges this year. Nexon plans significant updates for Dungeon Fighter Online in the fourth quarter and for MapleStory in South Korea early next year, with Lee confirming no delays are expected.
Nexon is now on the brink of surpassing 4 trillion won in annual revenue, with the company forecasting up to 4.18 trillion won (461.2 billion yen) by year-end. “The mobile version of Dungeon Fighter Online in China is set for major updates in the fourth quarter and again in the first quarter of next year, which will support stable revenue growth,” a Nexon spokesperson said.
