NEXON Co., Ltd. Q3 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

NEXON Q3 2022 Earnings Summary

  • Best Q3 results in company history: Revenue reached JPY 97.5 billion, a 28% increase year-over-year (YOY) and 16% increase on constant currency terms.
  • Operating income: JPY 31.5 billion, up 6% YOY, within company’s guidance range.
  • Net income: JPY 43.3 billion, up 14% YOY, boosted by JPY 26.4 billion in FX gains due to currency depreciation.
  • Top-performing franchises:
    • FIFA ONLINE 4: Record-breaking revenue for three consecutive quarters.
    • MapleStory (Korea): 47% YOY growth, nearing highest Q3 revenue ever.
    • Mabinogi: 66% YOY growth, highest quarterly revenue ever, 18 years post-launch.
    • HIT2 (new mobile title): Exceeded expectations with high PC-like player retention.
  • Mobile revenue growth: Up 93% in Korea YOY, supported by HIT2 and Dungeon&Fighter Mobile.
  • PC revenue in Korea: Up 40% YOY.
  • China performance: Revenue down 14% YOY, weakened by Dungeon&Fighter's performance; however, expectations are positive for Q4 with returning user engagement.

Guidance for Q4 2022

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Operator: Good day, everyone, and welcome to NEXON's 2022 Third Quarter Earnings Conference Call. Today's call is being recorded. At this time, I'd like to turn the call over to Takanori Kawai, Team Leader of Investor Relations. Please go ahead. Takanori Kawai: Hello, everyone, and welcome to NEXON's earnings conference call. 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 of our results of operations and financial condition, such as revenues attributable to our key titles, growth prospects, including with respect to the online games 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 owners of the parent as stated in NEXON's consolidated financial result

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