Nexon Reports Q3, 2019 Earnings, MapleStory Revenue at 16 Year High (All time)

November 7, 2019 Omer Altay Comments

Nexon reported Q3, 2019 earnings today which exceeded analyst expectations, resulting in a 10% jump in the company's stock price. The highlights for the quarter included record high revenues for MapleStory. Despite the game being 16 years old, revenues for it are at an all time high.

“Around the world, players are showing a growing preference for games supported by live operations, a core skill set for Nexon that we pioneered and have mastered over more than two decades. We see the industry pivot towards Nexon’s key strengths as we gain momentum toward the next generation of games. With our clear focus, along with the acquisition of Embark Studios AB (“Embark Studios”), a team recognized for building global blockbusters, Nexon is positioned to lead the next wave of genre-defining online games.”

I found this slide to be particularly interesting which shows MapleStory's revenues in South Korea since its launch in 2003. South Korea is the game's #1 market:

While Dungeon Fighter Online continues to be their most successful title, revenues are down quarter over quarter.

As with previous quarters, most of Nexon's revenues came from PC games with 74% from PC and 26% from mobile, but the mobile share continues to grow. Chin aand South Korea were the company's largest markets as well. North America makes up a paltry 6% of the company's revenues.

Nexon also released their Pipeline of games for the future with North America expecting to get Spirit Wish, SINoAlice, World of Dragon Nest, Arcane Citadel: Duel of Mages, Final Fantasy XI Mobile, Dynasty Warriors 9 Mobile, and an upcoming game from Embark Studios.