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Nexon kicks off first fiscal quarter with record sales

Nexon kicks off first fiscal quarter with record sales

May 12, 2017 | By Alissa McAloon

May 12, 2017 | By Alissa McAloon
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The online game company Nexon has released financial results for the first quarter of its 2017 fiscal year, ending March 31, 2017. 

During that first quarter, the Japanese company clocked revenue at ¥74.8 billion ($659.7 million), for both a 30 percent increase year-over-year and a quarterly record high since the company’s 2011 IPO

Operating income came higher than Nexon expected at in at ¥39.8 billion ($351 million), but net income failed to reach earlier predictions and landed at ¥19.9 billion ($175.5 million) for the quarter. Nexon attributes this quarter’s results to strong performance in its Japanese and Chinese markets, as well as to the success of its mobile games Hit and Hide and Fire.

Going forward, the company expects revenue for ints second quarter to fall between ¥41.3 billion and ¥44.8 billion ($364.3 million to $395.1 million).

The bulk of that predicted revenue, ¥30.3 billion to ¥32.6 billion ($267.2 million to $287.5 million), is expected to come from online PC games while the remainder, ¥11 billion to ¥12.2 billion ($97 million to $107.6 million), is dependent on mobile game performance. 



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