Korean market key as Nexon experiences a record-breaking quarter

FIFA Online 4 and Dungeon&Fighter Mobile were the company's biggest mobile hits

Korean market key as Nexon experiences a record-breaking quarter

Publisher Nexon has released its quarterly financial results for the quarter ending June 30th, 2022, showing record-breaking revenue.

"Nexon’s record-breaking revenue in the second quarter was driven by a combination of great games and best-in-class live operations," said Nexon CEO and president Owen Mahoney. "The improved performance of MapleStory in Korea, and Dungeon&Fighter franchise in both China and Korea reaffirms our thesis that Virtual Worlds grow at a steady, if non-linear rate and that slow intervals very often foreshadow dynamic new growth."

"Nexon is uniquely resilient. We built this company to resist disruption from events like inflation, foreign exchange and supply chain issues. Steady revenue from core franchises, allows us the time and creative freedom to get it right on new titles in development."

The company’s revenue was within the range of $623 million, an increase of 50 per cent year-on-year on an as-reported basis and 40 per cent on a constant currency basis.

A strong performance in Korea

The company’s operating income reached $168 million, a year-on-year increase of 47 per cent.

Part of the company’s success was the result of the strong performance of FIFA Online 4 on PC and mobile. Driven by a variety of events and promotions, the title more than doubled the already record revenue it earned in the prior quarter.

Dungeon&Fighter Mobile saw a particularly strong quarter in Korea, where user engagement remained high. The company expects its mobile titles to see a significant increase in year-on-year revenue in the country, partly as a result of this title’s strong performance, as well as the upcoming release of Heroes of Incredible Tales 2 (HIT2).

However, the company is expecting higher marketing costs, partly as a result of the success of both titles.

The past six months have seen the company’s mobile revenue exceed $384 million – a year-on-year increase of around $84 million. The company’s mobile titles proved especially strong in Korea, which accounted for $353.6 million dollars – an increase of around $96 million.

In June, we reported that Nexon is furthering their expansion plans in Western markets.

Staff Writer

Lewis Rees is a journalist, author, and escape room enthusiast based in South Wales. He got his degree in Film and Video from the University of Glamorgan. He's been a gamer all his life.