Nexon reports consensus-beating third quarter net profit

Nexon reported a consensus-beating 43.3 billion yen ($297.2 million) net profit in the third quarter this year, up by 14 percent compared to the same period last year.

Revenue rose and operating profit also rose on steady sales from both new and existing games, according to the Tokyo-listed game publisher. Revenue was the highest for a third quarter.

Revenue was 97.5 billion yen, 28 percent higher than last year’s third quarter, and operating profit increased by 6 percent to 31.5 billion yen.

Of the revenue, 68 percent came from PC games and 32 percent from mobile games. Sixty-five percent of revenue was generated in Korea, 20 percent in China and the rest from Japan and other economies.

Nexon released its HIT2 massively-multiplayer online roleplaying game (MMORPG) on Aug. 25 and Dungeon&Fighter Mobile on March 24, both of which contributed to the high mobile gains, according to Nexon.

Existing games, including FIFA Online 4, MapleStory and Mabinogi, also posted record third-quarter sales.

“We thank the users for allowing us such good results despite the rough conditions around the world,” said Owen Mahoney, CEO of Nexon in a press release. “We will keep doing our best to provide long-lasting and entertaining games of diverse genres and platforms.”

Nexon will present nine new games at the upcoming G-Star 2022 set to take place from Nov. 17 to 20 at Busan.

BY YOON SO-YEON [yoon.soyeon@joongang.co.kr]