NEXON Co., Ltd. Q2 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: ¥56.0 billion, down 13% YoY as-reported, down 21% YoY on a constant currency basis. Revenue was within the company’s outlook range.
  • Operating Income: ¥15.4 billion, met company guidance.
  • Net Income: ¥9.0 billion, slightly below guidance due to ¥4.5 billion Bitcoin revaluation loss.
  • Key Performers:
    • The Kingdom of the Winds: Yeon outperformed expectations.
    • Sudden Attack posted a 136% YoY increase in revenue.
    • FIFA ONLINE 4 (PC and mobile) grew YoY.
    • MapleStory Korea underperformed due to reputational damage, despite improvement in player sentiment after updates and engagement.
    • Dungeon&Fighter (China) saw declining metrics for most of Q2 but rebounded in late June with the 13th anniversary update.
  • Regional Revenue Trends:
    • Korea: Revenue flat YoY as-reported, down 10% YoY constant currency. PC revenue down 7%.

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Operator: Hello, everyone, and welcome. Thank you for joining us today. With me are Owen Mahoney, President and CEO of NEXON; and Shiro Uemura, CFO. Today's call will contain forward-looking statements, including statements about our results of operations and financial conditions such as revenues attributable to our key titles, growth prospects, including with respect to online game industry, our ability to compete effectively, adapt to new technologies and address new technical challenges, our use of intellectual property and other statements that are not historical facts. These statements represent our predictions, projections and expectations about future events, which we believe are reasonable or based on reasonable assumptions. However, numerous risks and uncertainties could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Information on some of these risks and uncertainties can be found in our earnings related IR documents. We assume no obligation to update or alter any forward-looking statements. Please note net income refers to net income attributable to owner of the parent as stated in NEXON's consolidated financial results. Furthermore, this conference call is intended to provide investors and analysts with financial and operational information about NEXON, not to solicit or recommend any sale or purchase of stock or other securities of NEXON. A recording of this conference call will be available on our Inv

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