Nexon Games has been setting new yearly highs daily, driven by the early success of its latest release, The First Descendant.
According to the Korea Exchange on Aug. 1, Nexon Games, Nexon’s main developer, saw its stock rise to 27,700 won at 9:19 a.m., up 3,900 won (16.39%) from the previous day.
Since its global launch on July 2, The First Descendant has rapidly gained popularity, reaching a peak concurrent player count of 220,000 on Steam and topping global sales charts.
Nexon Games’ earnings forecast has improved with the strong performance of its new looter shooter. Financial information service FnGuide now projects annual sales of 318.5 billion won and operating profit of 99.9 billion won, up from last month’s estimates of 208.1 billion won in sales and 2.5 billion won in profit.
Kyobo Securities analyst Kim Dong-woo said, “If The First Descendant maintains its position within the top 10 on Steam and there is no rapid drop in traffic, substantial profit growth is likely.”
