Nexon said its second-quarter earnings were driven by Dungeon&Fighter Mobile in the Chinese market. It also mentioned that The First Descendant, a new Nexon intellectual property, launched globally on July 2 and quickly became a top-seller on Steam.
North American players comprised the highest number globally, with console players making up approximately 60% of the total player base. This expansion beyond Nexon’s roots in South Korea and Asia is a positive development for the company.
Junghun Lee, CEO of Nexon, expressed satisfaction with the company’s recent progress, highlighting the success of Dungeon&Fighter Mobile in China and The First Descendant. Lee emphasized these achievements as proof points for Nexon’s IP Growth Initiative and its potential to strengthen the company’s IP portfolio.
Lee recently took over as CEO following the retirement of longtime CEO Owen Mahoney.
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Dungeon&Fighter Mobile in China, launched on May 21, maintained the top grossing position on China’s iOS chart for over 11 weeks, establishing itself as one of the most successful mobile releases in the country’s history.
In the second quarter, Nexon reported revenue of ¥122.5 billion, a 30% year-over-year increase on an as-reported basis and a 19% increase on a constant-currency basis, surpassing expectations. Operating income also exceeded expectations, rising 64% year over year to ¥45.2 billion, driven by strong revenue performance.
Net income reached ¥39.9 billion, representing a 63% year-over-year increase. The results surpassed expectations mainly due to operating income performance and an FX gain of ¥8.2 billion.
Major franchises like Dungeon&Fighter, MapleStory, and FC collectively experienced a 57% year-over-year growth. Both FC Online and FC Mobile outperformed, although FC Online5 revenue declined year over year due to tough comparisons with the previous year.
The premiere of the animated series Blue Archive in April expanded the IP fanbase, contributing to a record game revenue in Q2 with significant growth in Japan and a boost from the China service.
Adjustments to game balance and modes for The Finals are ongoing to enhance player retention. Nexon and Embark Studios also announced partnerships with Tencent to tailor The Finals and ARC Raiders for the Chinese market.
