Nexon Results Driven by Dungeon&Fighter Mobile In China
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Nexon reported that its second-quarter profits were driven by Dungeon&Fighter Mobile on the Chinese market. It also stated that The First Descendant was a Nexon intellectual property which launched worldwide on July 2, and became an instant top seller on Steam.
North American gamers accounted for the largest number of players worldwide, and console users constituted approximately 60%. This is good news, as Nexon has its sights set on global expansion beyond South Korea and Asia. “We are very pleased with the recent progress we have made, including Dungeon&Fighter’s breakaway performance in China, and The First Descendant, a new IP,” stated Junghun Lee in a Nexon statement. “These represent important proof points for Nexon’s IP Growth Initiative, which leverages extensions on our well-established IP, together with the development of all new games with potential to become enduring pillars of our IP portfolio.”
The First Descendant
Lee took over as CEO after Owen Mahoney retired.
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Dungeon&Fighter Mobile in China launched on May 21 and sustained the top grossing position on China’s iOS chart for more than 11 weeks – making it one of the most successful mobile releases in that country’s history.
Q2 revenue was Y=122.5 billion, up 30% year over year on an as-reported basis and up 19% on a constant-currency basis, which exceeded our outlook. Operating income exceeded expectations, increasing by 64% to Y=45.2 Billion, largely due to revenue growth. Performance-based bonuses were also higher than expected. The results exceeded our expectations, due primarily to an increase in operating income and a FX gain of 8.2 billion Y.
Three major franchises, Dungeon&Fighter MapleStory, and FC, all delivered strong growth year-over-year of 57%.
Both FC Mobile and FC Online exceeded expectations. FC Online5 revenue, however, was lower than expected due to the difficult comparison with Q2 of 2023.
The debut of Blue Archive in April has increased the IP’s fan base. Worldwide, game revenue set a Q2 record driven by double-digit growth in Japan and a contribution from the China service.
Regarding The Finals, Nexon said ongoing adjustments to the game’s balance and modes are designed to improve player retention.
Nexon and Embark Studios announced agreements with Tencent to customize The Finals and ARC Raiders to appeal to players in China.
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