Nexon’s Q1 net income hits $154 million, up 60% year-on-year

Free-to-play game giant Nexon posted better than expected results in its Q1 2012 earnings report last week, reporting revenues of 30.3 billion yen ($379.5 million), up 46 percent year-on-year and 37 percent quarter-over-quarter. Net income climbed 60 percent year-on-year to 12.3 billion yen ($154 million).

Nexon credited its earnings to strong performance in China, where revenue increased 89 percent year-on-year to 15.1 billion yen ($189.1 million) and accounted for 49.8 percent of Nexon’s total revenue for the quarter.