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Nexon celebrates 12% year-on-year increase in revenue in 2023’s second quarter

However, the company’s net income decreased 7% over the same period
Nexon celebrates 12% year-on-year increase in revenue in 2023’s second quarter
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Nexon generated 94.436 billion yen ($656.670 million) in revenue in the second quarter of 2023, representing a 12% year-on-year increase from 84.122 billion yen ($584.950 million), according to the company’s latest financial statement.

Mobile generated 29.096 billion yen ($202.321 million) in the quarter, 30.8% of the total. This represents a 2% increase from 28.544 billion yen ($198.483 million) in Q2 2022 in terms of revenue. Despite this, mobile’s share of revenue decreased slightly from 33.9% in Q2 2022.

The company attributes the rise in revenue primarily to the success of FIFA Online 4 and FIFA Mobile in Korea, as well as the success of its RPG Blue Archive. Notably, the latter was released in China on August 3 and saw a strong start, which may well translate into further growth.

Wars of Prasia and HIT2 are also identified as strong performers in Nexon’s portfolio.

Success worldwide

Korea remained Nexon’s largest market, generating 62.071 billion yen ($431.616 million) - 65% of the total. This represents a 21% increase from 51.248 billion yen ($356.358 million) in Q2 2022.

The company struggled somewhat in China, with revenue falling 5.2% year-on-year, standing at 18.231 billion yen ($126.771 million) compared to 19.238 billion ($133.773 million) in Q2 2022. However, mobile revenue increased 11% over the same period, from 142 million yen ($987,411) to 158 million yen ($1.098 million).

In contrast to China, mobile proved to be a dominant player in Nexon’s financials in other markets. The sector accounted for 59.8% of the company’s revenue in Japan, generating 1.447 billion yen ($10.061 million) out of 2.313 billion yen ($16.083 million). Similarly, mobile accounted for 45% of the total revenue for the quarter in North America and Europe, generating 3.755 billion yen ($26.110 dollars) out of 5.461 billion yen ($37.973 million).

Q1 2023 proved to be a record breaking first quarter for Nexon, with $923.1 million in revenue.