Mobile game

Nexon announces a 44% drop in mobile gaming revenue in the third quarter

Growth in PC sales for maker MapleStory can’t quite make up for drop in mobiles as overall revenue drops 4%

MapleStory maker Nexon released its third quarter results today, indicating that mobile gaming revenue fell 44% year-on-year to 18.6 billion yen ($ 165 million).

PC gaming revenue increased 24% from a year ago to 57.2 billion yen ($ 506.8 million) and accounted for more than 75% of the company’s profits.

In recent years, the publisher has tried to diversify its business beyond the PC to the point that the platform represented less than 67% of its revenue in 2020, the remaining 33% coming from mobile.

Overall, the company’s third-quarter revenue was 76 billion yen ($ 673 million), a 4% year-over-year decline.

The company said its sales were driven by Dungeon & Fighter, MapleStory, FIFA Online 4, and The Kingdom of the Winds: Yeon.

Net profit for the period was 38 billion yen ($ 336.6 million), up 132% from the same period a year earlier.

For the fourth quarter, Nexon expects revenue of between 51.2 billion yen ($ 453.6 million) and 57 billion yen ($ 505 million), up 23% to 33 % year-on-year.

He forecasts a net profit of 285 million yen ($ 2.5 million) to 3.57 billion yen ($ 31.6 million).

Nexon’s third-quarter net income loss last year was reported at 16.33 billion yen ($ 144.6 million), which is down 59%.