The financial reporting season continues as Nexon has now unveiled the results for the third quarter of 2024 (July-September). For the second consecutive time, the company has reported record-breaking revenues.

Key highlights from the report:

▫️ Nexon's revenue amounted to 135.6 billion yen (907.7 million USD), marking a 13% year-over-year increase. This is the highest revenue recorded for any third quarter in Nexon's history;

▫️ The company's operating profit for the third quarter was also record-breaking at 51.5 billion yen (344.7 million USD), showing an 11% increase compared to the previous year;

▫️ According to Nexon, these records were achieved thanks to a shift in business strategy. The company had previously announced plans to aggressively expand its projects into new markets and platforms and to work more on new IPs;

▫️ However, Nexon's net profit dropped by 23% over the year to 27 billion yen (180.7 million USD);

▫️ China once again emerged as the main revenue market for Nexon, accounting for 56.6 billion yen (378.9 million USD), which is a 138% increase over the third quarter of 2023;

▫️ In South Korea, Nexon earned 47.2 billion yen (316 million USD, -38%), while in North America and Europe, it brought in 17 billion yen (113.8 million USD, +93%), and in Japan — 5.98 billion yen (40 million USD, +91%);

▫️ Nexon's revenue from PC games fell by 18% to 70.79 billion yen (474 million USD). Meanwhile, revenue from mobile games soared by 89% to 64.8 billion yen (433.8 million USD);

▫️ The Chinese version of Dungeon & Fighter Mobile was among the most successful games for the quarter. Although Nexon did not disclose its earnings, the company noted that the quarterly revenue for the entire Dungeon & Fighter Mobile franchise increased by 142% compared to the previous year;

▫️ The MapleStory franchise showed record-high revenues in North America, Europe, and Japan;

▫️ Another growth driver was The First Descendant, with 75% of the game's revenue coming from western markets;

▫️ The release of the fourth season helped The Finals improve player retention levels;

▫️ Nexon is pleased with ARC Raiders' public testing conducted in October. As noted by the company, player feedback on the shooter improved compared to the June testing.

PDF
Nexon's Third Quarter 2024 Report
4 MB

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