Nexon Announces Second Quarter 2017 Results
Second Quarter Revenues Up 23% Year-over-Year
Mastery of Live Game Development and Operations Drove Sustained Growth in Flagship Titles
TOKYO – August 10, 2017 – NEXON Co., Ltd. (“Nexon”) (3659.TO), a global leader in online games, today announced financial results for its second quarter ended June 30, 2017.
“By every measure, Nexon had a great quarter," said Owen Mahoney, President and Chief Executive Officer of Nexon. “We're delivering high-quality games, growing player engagement, and we've got a clear plan for long-term growth. Our positive second quarter results, including revenues, operating and net income1 exceeded our outlook and were primarily driven by the strong performance of Dungeon&Fighter and MapleStory -- two powerful franchises that are a testament to Nexon's unique mastery of live game development and operations to drive player engagement. Our foundation of successful titles support a rich pipeline for the second half of 2017, including eagerly-awaited games such as LawBreakers, Titanfall®: Assault, Battlejack®, and Dark Avenger 3.”
Second Quarter 2017 Highlights:
- Second quarter revenues were 47.1 billion yen, up 23% year-over-year on as-reported basis, exceeded our outlook primarily driven by Dungeon&Fighter China’s successful 9th anniversary update and item sales.
- Operating income was 16.3 billion yen, exceeded our outlook primarily due to the strong performance in high-margin China business.
- Net income1 was 19.4 billion yen, exceeded our outlook primarily due to operating income outperformance and an additional 6.3 billion financial income primarily from FX gain.
Third Quarter 2017 Outlook:
- Expect third quarter 2017 revenues in the range of 51.6 to 55.6 billion yen.
- Expect PC online game revenues in the range of 39.8 to 42.5 billion yen.
- Expect mobile game revenues in the range of 11.8 to 13.1 billion yen.
- Expect operating income in the range of 17.8 to 20.5 billion yen.
- Expect net income1 in the range of 15.9 to 18.0 billion yen.
Earnings Presentation, Webcast and Replay:
Nexon management will host an earnings presentation for analysts, investors and media to discuss the Company’s financial results and outlook. The presentation, which will be webcast live on Nexon’s IR website on the same day at 5:00 p.m. Japan Standard Time (JST) / 4:00 a.m. Eastern Daylight Time (EDT), will be simultaneously conducted in Japanese and English. A replay of the presentation will be available on the website within several days.
For additional information regarding Nexon’s second quarter 2017 financial results, please visit the Investor Relations section of Nexon’s website at http://ir.nexon.co.jp/en/.
This press release is prepared to offer reference information about Nexon to investors and is intended to generally provide investors and analysts with financial and operational information about Nexon, but not to solicit or recommend any sale or purchase of stock or other securities of Nexon.
About NEXON Co., Ltd. http://company.nexon.co.jp/
NEXON Co., Ltd. (“Nexon”) (3659.TO) is a global leader in online games, with more than 100 live games operated across more than 190 countries. Nexon pioneered micro-transactions and free-to-play business model, and is widely credited with unmatched global expertise in sophisticated live game operations, nurturing player communities, and for sustaining games for years, even decades. Founded in Korea in 1994, the Company is now headquartered in Japan and listed on the Tokyo Stock Exchange. In 2017, Nexon was placed on the Nikkei Stock Index 300.
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