Nexon Q3 2022: ‘Record breaking quarterly revenue’ is earned on the strength of mobile gaming in Korea


We’re back with another quarterly gaming financial story thanks to Nexon putting out its third quarter report, which looks to be full of good news for investors as the company is heralding “record breaking quarterly revenue” in spite of “a global business environment that is best described as ugly.”

Third quarter revenue is up by 28% overall year-over-year, with the lion’s share of the growth coming thanks to Korea’s mobile gaming market. Most of the revenue is attributed to the mobile and PC soccer MMO FIFA ONLINE 4, as well as Mabinogi and Heroes of Incredible Tales 2, while MapleStory and Dungeon and Fighter Mobile also contributed to a lesser degree. As for Nexon’s North American and European segments, revenue increased by 10% YoY, mostly thanks to MapleStory and new games, while mobile games MapleStory M and Choices: Stories You Play are both down.

On the subject of new games, Nexon talked up future releases that are coming down the pike like the competitive destructible arena shooter The Finals, co-op shooter The First Descendant, multiplayer racer KartRider: Drift, and the medieval 16v16 arena battler Warhaven, which our Fight or Kite columnist Sam recently visited. Nexon is also expecting Q4 to break records thanks to the growth of its major franchises and more new mobile titles arriving to Korea.

sources: Nexon investor relations site, press release
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