Nexon Reports Record Breaking Q4 In Latest Financials

Publisher Nexon is reporting record-breaking profits in Q4 of 2022 with a 49% increase in revenue year-over-year on an as-reported basis, with Nexon reporting a fourth quarter revenue of ¥81.1 billion ($616 million USD).

“In today’s turbulent economic environment, Nexon is anti-fragile. Our business model of Virtual Worlds, and our long-term approach to player engagement have resulted in an enormously robust business,” said Owen Mahoney, President and CEO of Nexon in the latest financial statement.

Nexon attributed its record growth to three main growth drivers: growth in existing games, new releases, and market and platform expansion. FIFA Online in particular saw record annual revenue for the fourth year in a row, while KartRider: Drift seems to be a key game in the upcoming pipeline of games coming out.

According to the report, 60% of the company's growth is attributed to existing virtual worlds, with MapleStory revenue growing by 6.2 billion yen, Dungeon Fighter up 11.9 billion, and other existing PC titles showing 29.4 billion growth.

The fun doesn't stop there, as Nexon has a positive outlook for Q1 2023, expecting revenue in the range of ¥116.7 to ¥125.6 billion, representing a 28% to 38% increase year over year. This outlook comes on the backs of multiple games slated for release in the coming year, including KartRider: Drift, Warhaven, Wars of Prasia, and Mabinogi Mobile.

With financials looking strong in Q4 2022, the stage is set for 2023 to be yet another growth year for Nexon.