Dungeon & Fighter Mobile and The First Descendant helped Nexon achieve a record third quarter

The financial reporting season continues. Now, Nexon has shared the results for the third quarter of 2024 (July-September). The company has reported record revenues for the second time in a row.

The First Descendant

Key highlights from the report:

• Nexon's revenue reached 135.6 billion yen (907.7 million dollars*), a 13% year-over-year increase. Nexon has never earned this much in any other third quarter in its history;
• The company also reported a record operating profit for the third quarter — 51.5 billion yen (344.7 million dollars), an 11% increase compared to last year;
• According to Nexon, these records were achieved thanks to a change in business strategy. Previously, the company announced its decision to more actively introduce its projects to new markets and platforms, and to focus more on new IPs;
• Nevertheless, Nexon's net profit for the year fell by 23% to 27 billion yen (180.7 million dollars);
• China once again became the main revenue market for Nexon, accounting for 56.6 billion yen (378.9 million dollars), which is a 138% increase over the third quarter of 2023;
• In South Korea, Nexon earned 47.2 billion yen (316 million dollars, -38%), in North America and Europe — 17 billion yen (113.8 million dollars, +93%), and in Japan — 5.98 billion yen (40 million dollars, +91%);
• Nexon's revenue from PC games fell by 18% to 70.79 billion yen (474 million dollars). However, mobile games revenue skyrocketed by 89% to 64.8 billion yen (433.8 million dollars);
• The Chinese version of Dungeon & Fighter Mobile emerged as one of the most successful games of the quarter. Nexon did not disclose the exact earnings, but noted that the quarterly revenue of the entire Dungeon & Fighter Mobile franchise grew by 142% compared to last year;
• The MapleStory franchise demonstrated record-high revenues in North America, Europe, and Japan;
• Another growth driver was The First Descendant, with 75% of the game's revenue coming from Western markets;
• The release of the fourth season helped The Finals increase its player retention level;
• Nexon expressed satisfaction with the public testing of ARC Raiders that took place in October. As the company noted, player opinions about the shooter improved compared to the June test.

*We converted yen to dollars using the rate specified in Nexon's report. 1 dollar = 149.38 yen.