Nexon reveals Q4 outlook along with a 28% Q3 revenue increase in 2022

The company announced its financial results for Q3 2022 with a record-breaking quarterly revenue.
Characters from the game HIT 2 next to the HIT 2 game logo and Nexon logo

South Korea-based video game publishing firm Nexon has shared its Q3 2022 earnings report. The company stated that the success of its year-over-year Q3 performance stemmed from titles such as MapleStory, FIFA Online 4, Dungeon&Fighter Mobile, and HIT2.

Nexon shared a Q3 revenue increase of 28% in a year-over-year comparison, grossing ¥97.5 billion ($666 million). The publishing company determined its net income for the quarter as ¥43.3 billion ($296 million), which also saw an increase, of 14%, compared to last year. According to Nexon, this quarter’s revenue was “record-breaking” for the company.

The newest mobile title of the company, HIT2, reportedly “exceeded expectations” with a high retention rate that can be compared with its PC counterparts. Nexon launched the mobile MMORPG in August 2022, and the game is available on Android and Windows PC.

Owen Mahoney, CEO and President of Nexon, shared some comments about the company’s performance in 2022:

“In a global business environment that is best described as ugly, 2022 is shaping up to be a tremendous year for Nexon, and our confidence in 2023 is growing. Our portfolio of established franchises is tracking to achieve the biggest full-year revenue in our 28-year history, and we have by far our best pipeline of new games for global distribution on multiple platforms.”

The company provided a Q4 2022 outlook in the report. The expected revenue for the quarter has been foreseen as between ¥75.5 billion to ¥83.7 billion ($516 million to $572 million). The net income foresight of the publishing firm is determined between ¥5.47 billion to ¥10.1 billion ($37.3 million to $69.31 million).

Nexon also reported a high expectancy for the upcoming titles TalesWeaver: Second Run, KartRider: Drift, The Finals, Veiled Experts, Arc Raiders, Warhaven, The First Descendant, and Mabinogi Mobile.

NEXT: Playstudios announced financial results for Q3 2022

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