Nexon Releases Q3 Earnings Report, Showing Continued Growth and Naming New CEO
Nexon released its latest earnings report today, with an announcement of a new CEO and an optimistic look ahead to 2024.
Overall, Nexon saw positive results and growth in Q3, with seven consecutive quarters of revenue growth. In Q3, success was definitely fueled by games like MapleStory, cementing another successful year for the global hit classic MMORPG. Other titles like Blue Archive were also key to success. Operating income went up by 47% YoY.
In Korea, MapleStory and soccer title FC Online were the big drivers. MapleStory continues its worldwide success with a rise in monthly active users in Korea, in addition to paying users and the average revenue per paying user. FC Online was also a revenue success, taking advantage of momentum from the last World Cup.
In other countries, revenue increases were also seen, including in Japan, China, and North America and Europe. In those latter two territories, Q3 Revenue was up by 78% YoY, particularly driven, once again, by MapleStory .
The news also comes with an upcoming change in leadership. CEO Owen Mahoney will step down in March of 2024 after a decade as President and CEO, to be succeeded by Junghun Lee. Lee is a longtime Nexon vet who was appointed following a shareholder vote. In a press release, Lee said, “I am honored and excited to lead the company into its next generation. Our strong base of live Virtual World franchises has shown unprecedented growth and stability, our global team of operators and developers is world-class, and our demonstrated commitment to innovation in new game development as well as technology sets us up for a new generation of growth worldwide”.
Looking ahead, Nexon takes an optimistic view into 2024, expecting sustained growth.
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