Nexon reports $304M in revenue, $79.6M in net income for Q3 2012

  • SHARES

By Emanuel Maiberg Comment

Nexon today reported total revenues of 24,256 million yen ($304 million) for its fiscal Q3 2012, practically the same results it reported for Q3 2011 of 24,156 million yen ($302.8 million), and slightly below its expectations.

Net income for the quarter was 6,348 million yen ($79.6 million), a decrease of 12 percent year-over-year. Adjusted net income for the quarter was 6,791 million yen ($85.1 million), a decrease of 10 percent year-over-year.

Basic earning per share were 14.63 yen ($0.18) and adjusted earning per share were 15.56 yen ($0.195).

Operating income was 10,032 million yen ($125.7 million), down eight percent year-over-year and 8.5 percent above Nexon’s previous outlook. A revenue mix which was higher in China and lower in other regions in addition to the company’s decision to push certian expenses to Q4 2012 resulted in an operating income margin of 41.4 percent, higher than Nexon’s expectations.

Nexon’s President and CEO Seungwoo Choi used the opportunity to announce that the company will partner with games developer and publisher Valve Corporation to launch the much anticipated PC game Dota 2 in Korea and Japan.

Choi also touted the company’s recent purchase of mobile social game developer gloops (which it bought for $469 million), claiming that it makes “Nexon the largest mobile game developer in the world by revenue, based on publicly-available information.” He added that Nexon plans to combine “popular IP and global footprint with gloops’ world-class mobile development capabilities to create strong mobile franchises and expand gloops’ business around the world.”