Tokyo based F2P online publisher Nexon has announced that third quarter revenues rose 64 per cent to 39.9 billion JPY with operating profits of 16.2 billion JPY, also up 53 per cent compared to the same period last year, and exceeding company expectations.
“We are pleased with our solid third quarter results, driven by the strong performance of new and existing titles,” said Nexon CEO Seungwoo Choi. “We exceeded the high end of our outlook for the fourth consecutive quarter, with Korea growth accelerating and stable performance in China.”
Asian markets continue to be growth centres for Nexon. Chinese revenues were up 40 per cent year-on-year for the quarter, and healthy returns in Korea were driven by FIFA Online 3 revenues and popular Dungeon & Fighter updates. Japanese revenues were up 171 per cent year-on-year for the period, with new and existing mobile titles performing strongly.
Revenues in North America were flat for the period, growing only 2 per cent compared to last year’s third quarter. Sales in Europe were down 3 per cent year-on-year for the quarter.
“We continue to make excellent progress on our long-term strategic initiatives, making several investments in studios headed by world-class developers, which enables us to secure AAA content, particularly in the US and European markets,” added Choi in a statement. “The platform transition toward synchronous online game play and free-to-play monetization shows no signs of slowing, and – as pioneers of the free-to-play model – we are well-positioned to capitalize on this industry momentum.”
