Nexon Behemoth Sees Revenues Climb 39% to $331.4 Million
Q4 2012 Proved to be a good one for Nexon (the freemium gaming company that went public around the same time that Zynga did). The company saw revenues jump 39% to 30.9 Billion Yen ($333.14 million). Despite this, they still posted a net loss of 94 Million Yen ($1 million) due to various writedown and high tax expenses in South Korea. Emerging in Seoul almost 20 years ago, Nexon originally built their business in downloadabe PC games in China and South Korea with franchies like MapleStory (which I may have played some years ago) – and has cumulatively done more than $1 Billion in revenue. After raising $1.2 Billion in a late 2011 IPO the company moved its Headquarters to Tokyo. 
While the company’s stock hasn’t done nearly as Bad as Zynga (I dont’ think anyones have, maybe Facebook – no not really – they’re ok now :). But, the road has not been an easy one for Nexon – with shares trading 29% lower than they did a year ago, gaming stocks like GREE and others are all feeling the same pain.
Nexon expects that it will be a flat quarter for their PC Business at between $305.9-$324.4 million in revenue. Fortunately, mobile games have grown by more than 30-fold year-over-year at between $79.4 and $87.4 Million in revenue. Nexon and DeNa also recently affirmed a gaming partnership that would bring about 10 different Nexon and Gloops (the company Nexon acquired last year for $468.4 million) produced games to the Mobage platform this year.
Kevin is an Online and Mobile Marketing Strategist who has worked with companies of all sizes over the last 6 years. You can follow Kevin on any of the social platforms below.
