NEXON Co., Ltd. Q3 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: ¥79.4 billion, a 52% YoY increase. This marks another record-breaking quarter.
  • Operating Income: ¥27.6 billion, up 13% YoY but below outlook due to absence of Mobile Dungeon&Fighter (MD&F) and a ¥3 billion impairment loss.
  • Net Income: ¥10.3 billion, below expectations due to FX loss of ¥8.6 billion tied to Korean Won appreciation.
  • PC Revenue: 58% of total; grew 20% YoY, driven by MapleStory and Dungeon&Fighter.
  • Mobile Revenue: 42% of total; up 140% YoY. Kingdom of the Winds: Yeon exceeded expectations significantly.
  • Korea: Revenue up 115% YoY (constant currency), contributed 64% of total revenue. All major brands (MapleStory, Dungeon&Fighter, V4, KartRider Rush+, Kingdom of the Winds: Yeon) exceeded expectations.
  • China: Revenue fell 11% YoY due to delayed MD&F launch. PC Dungeon&Fighter stable but seeing weaker user engagement.
  • Japan: Revenue down 17% YoY (as reported), but up YoY excluding gloops business impact. In transition due to strategy shift.
  • North America & Europe: Revenue up 22% YoY (constant currency), powered by MapleStory (178% growth).
  • Rest of World: Revenue up 56% YoY (constant currency), with MapleStory growing 165%.

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Operator: Good day everyone, and welcome to Nexon's 2020 Third Quarter Earnings Conference Call. Today's call is being recorded. At this time, I would like to turn the call over to Maiko Ara, Head of Investor Relations and Corporate PR. Please go ahead ma'am. Maiko Ara: 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 operation 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 interest 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

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