Nexon reported Q3 2024 revenue of ¥135.6 billion, a 13% year-over-year increase, driven primarily by the successful launch of Dungeon & Fighter Mobile in China.
See it on page 1The Dungeon & Fighter franchise saw a 142% year-over-year revenue increase, bolstered by its mobile expansion and a pipeline of upcoming titles including The First Berserker: Khazan and Project OVERKILL.
See it on page 2Net income fell 23% to ¥27.0 billion due to a ¥19.6 billion foreign exchange loss, despite operating income rising 11% to ¥51.5 billion.
See it on page 4MapleStory revenue outside of Korea grew 23% year-over-year, with record Q3 sales in Japan, North America, and Europe supported by hyper-localization efforts.
See it on page 2The new IP The First Descendant, launched in July, established a strong footprint with approximately 75% of its global revenue originating from Western markets.
See it on page 3Nexon is executing a horizontal growth strategy in the shooter genre, with plans to release Season 5 of THE FINALS in December and launch ARC Raiders in 2025.
See it on page 3**Nexon Co., Ltd. – Q3 2024 Earnings Press Release (Nov 12 2024)**
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### 1. Core Financial Results (Q3 2024, ended Sept 30 2024)
| Metric | FY 2024 Q3 | YoY Change | Constant‑Currency (CC) | |--------|------------|------------|------------------------| | **Revenue** | ¥135.6 bn | **+13 %** (as‑reported) / **+12 %** (CC) | Slightly below outlook (FX headwind) | | **Operating Income** | ¥51.5 bn | **+11 %** (as‑reported) / **+10 %** (CC) | Within expected range | | **Net Income** | ¥27.0 bn | **‑23 %** (as‑reported) / **‑24 %** (CC) | Impacted by ¥19.6 bn FX loss | | **FX Impact** | – | Revenue hit by adverse yen movements; FX loss drove net‑income decline |
*All figures are in Japanese yen (¥).*
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### 2. Growth Drivers & Franchise Performance
| Franchise | Q3 2024 Growth | Highlights | |-----------|----------------|------------| | **Dungeon & Fighter (DnF)** | **+142 % YoY** (overall franchise) | • Launch of **DnF Mobile in China** (May 21) <br>• New updates & “New Year” content for both mobile & PC in China (Q4 2024 / Q1 2025) <br>• Upcoming titles: *The First Berserker: Khazan*, *DnF: Arad*, *Project OVERKILL* | | **MapleStory** | **+23 % YoY** (outside Korea) | • Outside‑Korea revenue > 40 % of total <br>• Record Q3 sales in Japan, NA, EU & Rest‑of‑World (hyper‑localization) <br>• Soft‑launch of **MapleStory Worlds** (NA & SA) <br>• Large Q4 test for **MapleStory N** (PC MMORPG with blockchain) | | **FC (Fighting‑Club) Franchise** | Slight decline YoY (tough comparison to record Q3 2023) | • Expect double‑digit YoY growth in Q4 2024 <br>• Full‑year revenue projected near 2023 record | | **New IP – The First Descendant** | Strong start (July launch) | • ~75 % of global revenue from Western markets <br>• Ongoing updates planned to cement it as a “consistent contributor” |
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### 3. Strategic Initiatives
| Initiative | Focus | Key Actions | |------------|-------|-------------| | **Vertical Growth Initiative** | Deepen existing franchises | • Product extensions, new platforms, regional expansion, hyper‑localization <br>• New titles & major content updates (see DnF & MapleStory) | | **Horizontal Growth Initiative** | Add new pillars to the portfolio | • **Shooters** – *The First Descendant*, *THE FINALS* (Season 5 in Dec), *ARC Raiders* (public test Oct, release 2025) <br