F2P game publisher Nexon (TYO:3659) has announced its FY14 Q2 financials, for the three months ending 30 June 2014.

Revenue was $361 million (¥36.9 billion), up 1 percent year-on-year, but down 8 percent on a constant currency basis.

Net income was $40 million (¥4.1 billion), down 64 percent due to foreign exchange losses.

Nexon ended the quarter with cash and equivalents of $1.4 billion (¥140 billion).

Korean strength

Breaking out mobile games, it was 23 percent of total revenue or $82 million (¥8.4 billion), up 16 percent year-on-year, or 17 percent quarter-on-quarter.

Of this native games accounted for $31 million (¥3.2 billion).

Nexon pointed to the success of Legion of Heroes - which is generating around $3 million a month from 2 million downloads - and FIFA Online 3 in the Korean market.

Nexon will launch Legion of Heroes in China, partnering with Chukong.

In Japan, - the companies biggest mobile market - mobile revenue was down 2 percent quarter-on-quarter to $58 million (¥5.9 billion).

Most of Nexon's revenue in the country comes from browser games operated by its wholly-owned subsidiary Gloops; a sector that has been in decline for the past four quarters.

[source: Nexon]