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Nexon sees FY15 Q1 mobile sales up 16% to $70 million

Top of Tanker and DomiNations launched well
Nexon sees FY15 Q1 mobile sales up 16% to $70 million
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F2P game publisher Nexon (TYO:3659) has announced its FY15 Q1financials, for the three months ending 31 March 2015.

Sales were $433 million (¥52 billion), up 9 percent year-on-year, and up 17 percent quarter-on-quarter.

This was also down 1 percent on a constant currency basis.

Mobile game revenues were up 16 percent year-on-year to $70 million.

However this was down 6 percent quarter-on-quarter.

Net income was $157 million (¥18.8 billion), up 16 percent.

Nexon ended the quarter with cash and equivalents of $1 billion.

Regional breakdown

“Our solid first quarter performance again validates our ongoing strategic focus on quality,” said CEO Owen Mahoney.

Nexon said that PC game Dungeon&Fighter was performing well in China, thanks to a content update and item sales, although overall, sales in China were down 45 percent.

Korea continues to be a strong PC market, with sales up 19 percent.

Sales in Japan were also in decline, down 28 percent year-on-year, and Nexon making a loss in the country during the quarter of $112 million.

The company warns that Japan remains "an area of management focus".

DomiNations has gained 6 million downloads with strong retention.

Increased marketing costs in North America for Nexon's mobile launches increased the company's loss, but sales were up 35 percent to $14 million.

Mobile rising

Looking at Nexon's mobile business, it highlighted the release of Locojoy's Top of Tanker in Korea, and strategy game DomiNations, which has been launched in the US and Europe, and has already gained 6 million downloads with strong retention.

Nexon also announced a co-development deal with Square Enix to create a mobile version of Final Fantasy XI as well as Dungeon&Fighter mobile, which will be published by Tencent in China.

[source: Nexon]