Nexon Reports Q3 2021 Earnings - Mobile Revenues Down, PC Up
Nexon reported their Q3 2021 earnings report today and the highlights included a sharp drop-off in mobile game revenues (down 44% year over year) and an increase in PC revenues (up 24% year over year). Total revenues for the quarter were $672M (down 4% year over year). The strong performance in PC gaming revenue can be attributed to Dungeon Fighter Online which saw a strong rebound in sales (up 22% year over year).
Nexon Q3 Highlights:
- Nexon will be launching Dungeon Fighter Mobile in South Korea sometime in Q1 2022 (No release date for Chinese or International version yet)
- Nexon announced a global publishing deal for HIT 2, the a mobile MMO developed by Nexon subsidiary NAT Games.
- Nexon's Embark Studio in Sweden announced 3 new projects 2 New Virtual Worlds and a new 'creative platform'. The first virtual world titled Pioneer will be launching sometime in 2022.
- Kart Rider: Drift closed beta testing runs from December 9 - 15. The game is expected to launch sometime in 2022 on multiple platforms including PC, Consoles, and Mobile.
Nexon's Current Pipeline of Games:
Nexon's Key Titles By Region:
The mobile game 'Choices: Stories You play' is ranked the top Nexon title for North America and Europe. Much of Nexon's growth in the West was through acquisitions with the acquisition of 'Choices' doubling the company's revenue in the region. Despite this, Nexon reported a net loss for North America & Europe for the quarter. South Korea and China remain the most important markets for the company.
Further Reading: Q3 2021 Investor Presentation
