- Growth has been largely driven by Dungeon & Fighter
- FC Online and FC Mobile both exceeded expectations
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Nexon‘s Q2 revenue exceeded expectations by reaching ¥122.5 billion, a 30% increase year over year. Operating income is up 64% to ¥45.2 billion, driven by a solid revenue performance and higher-than-expected bonuses.
Net income in Q2 was ¥39.9 billion, up 63% YoY due to strong operating income and an ¥8.2 billion FX gain. This growth was driven by Dungeon & Fighter, MapleStory, and FC, which together saw a 57% year-over-year increase.
Dungeon & Fighter doubled its franchise revenues YoY by expanding to mobile in China. MapleStory grew 9% with regional expansions and improvements. FC Online and FC Mobile exceeded expectations despite FC Online’s revenue dip.
A peek at Q3 earnings
For Q3 2024, Nexon expects revenue of ¥137.8 to ¥152.0 billion, representing a YoY increase of 15% to 26%. Operating income is projected to range from ¥46.0 to ¥57.3 billion, varying from a 1% decrease to a 24% increase year over year.
Net income is expected to be between ¥34.6 and ¥43.0 billion, with a potential YoY change ranging from a 2% decrease to a 22% increase. Nexon notes that a one JPY move against the USD could impact revenue by ¥0.90 billion and operating income by ¥0.33 billion.
“We are extremely pleased with our recent progress which includes breakaway performances by Dungeon & Fighter Mobile in China and a brand new IP, The First Descendant,” said president and CEO of Nexon Junghun Lee.
“These represent important proof points for Nexon’s IP Growth Initiative, which leverages extensions on our well-established IP, together with the development of all new games with the potential to become enduring pillars of our IP portfolio.”
Nexon achieved record-high Q2 results largely due to Dungeon & Fighter Mobile’s success in China as one of the most successful mobile releases in the country’s history.
