Nexon Releases Earnings for Fourth Quarter and Full-Year 2023
NEXON Co., Ltd. (Nexon) (3659.TO), a global leader in Virtual Worlds, today announced the financial results for its fourth quarter and fiscal year ended on December 31, 2023.
"Despite unforeseen short-term challenges in Q4, Nexon delivered record-setting full-year revenue and operating income in 2023, growing revenue 20% and operating income 30%," said Owen Mahoney, President and CEO of Nexon. "And the successful launch of THE FINALS is a major step in our strategy for expansion in global markets. THE FINALS' early performance has surpassed even our expectations, and we believe it is well on track to become Nexon's next major forever franchise. The development team has been highly focused on incorporating players' feedback and releasing content updates at a rapid pace. The next major beat is the launch of Season 2, planned for March."
"To ensure continued growth in revenue and operating income in 2024, Nexon will deliver an aggressive content plan with multiple updates to our existing franchises, as well as exciting major new game launches," said Junghun Lee, who is scheduled to become Nexon's CEO in March. "In addition to THE FINALS Season 2 scheduled for March, PC Dungeon&Fighter players can expect double the amount of new content in 2024 that they received in the prior year. And we have major new launches in the pipeline. The biggest of these is Dungeon&Fighter Mobile in China, which we plan to launch as soon as possible in 2024. Additional key titles include The First Berserker: Khazan, MABINOGI MOBILE, The First Descendant, and ARC Raiders, the second major title from Embark Studios."
First Quarter 2024 Outlook:
- Revenue: ¥0.69 billion
Earnings Letter (Japanese & English)
Investors, analysts, and media are encouraged to visit Nexon's website at https://ir.nexon.co.jp/en/, and review the Q4 and FY2023 Earnings Letter with details on our recent performance and Q1 outlook.
Conference Call (Japanese & English)
Nexon management will host a conference call for investors, analysts and the media to discuss the company's financial results and outlook. The conference call will be held at 5:00 p.m. JST / 3:00 a.m. EST and will be simultaneously conducted in Japanese and English. It will consist of brief remarks made by the management team followed by a Q&A session. The Q&A session will be conducted with consecutive translations.
Time: February 8, 2024 at 5:00 p.m. JST / 3:00 a.m. EST
Please register from the link below. Passcode and PIN code will be provided upon registration.
To register, please go to Registration Page
*Passcode and PIN code will be required to join the call.
Audio Archive and Transcript
An audio archive and a transcript will be available on Nexon's Investor Relations website at https://ir.nexon.co.jp/en/ after the earnings conference call.
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. https://company.nexon.co.jp/en/
Founded in 1994, NEXON Co., Ltd. (Nexon) (3659.TO) is a company engaged in the production, development and operation of online games and Virtual Worlds. First listed on the Tokyo Stock Exchange in December 2011, Nexon was placed on JPX400 in 2015 and added to the Nikkei Stock Index 300 in 2017. In 2020, Nexon was added to the Nikkei 225. Nexon currently has more than 45 live games in more than 190 countries on PC, console, and mobile. Major game franchises include MapleStory, KartRider and Dungeon&Fighter. In 2021, Nexon completed the acquisition of Embark Studios AB, a company based in Stockholm, Sweden, developing multiple projects for global release.
1 Constant currency is a non-GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant-currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period.