You might think Nexon would be smarting after selling off its NCsoft shares at a substantial loss in the wake of what was apparently a failed hostile move by by one South Korean giant against another. And maybe it’ll hurt in the four quarter — Nexon itself predicts revenues to drop — but its third quarter financial report sure looks rosy.
Nexon says its Q3 revenues neared 50 billion yen, “up 9% year-over-year.” The bulk of the revenue came from PC online games (almost 40 billion yen), while mobile game revenue clocked in at just over 10 billion yen, all up year-over-year. Of note, it says, “Dungeon & Fighter in China showed solid results” in the PC space, with Fifa Online 3M and DomiNations leading the mobile pack.
Net income attributable to owners of the parent was 19.2 billion yen, up 41% year-over-year, above the high-end of our expectation range, driven by stronger-than-expected operating income and foreign exchange gains.
Nexon has been making bold moves of late, with upcoming MMOs like Moonlight Blade and Tree of Savior and a big push into large-scale, global mobile titles like Durango and even one for TERA. The company also recently made a deal with newly formed QC games, a western studio fronted by SWTOR vets.
