Nexon's Q2 Was Up-And-Down, But There's A Lot In The Pipeline
We already know a good bit about Nexon's future, but what about its past -- well, the last three months, at least? The developer and publisher released its Q2 financials today, which didn't tout record-breaking numbers -- as the reports are usually wont to do. Naturally, there was a reason for that.
In this case, it might have been a good one, as the report cites a year-over-year decrease "Due to Tough Comparison with Q2 2020." That was when pandemic panic was at its height, leading to ... well, a record-breaking quarter. Now that things have settled down a bit (unless you live in Florida), so have revenues, which were still "in line with expectations." I wish I could plan that well.
What didn't go as planned was revenue in China, which was cut nearly in half from Nexon's Q1 numbers. That was only "slightly below outlook," as Dungeon&Fighter's revenue came in at the low end of the company's estimates. Other regions also reported drops from the previous quarter, and the outlook for Q3 and beyond is a bit of a mixed bag, depending on what region you're talking about; decreases are expected in Korea, Japan, Europe, and North America, while increases are on tap for China and the rest of the world.
All in all, it looks like the benefits, at least from a game-company perspective, from 2020 are starting to dry up, which might explain why Nexon decided to reveal trailers for a slew of games recently. When revenue is down, you need something to keep the investors happy, and what's better than promising a whole bunch of new products, with shiny visuals to match?
(UPDATE: Speaking of "down," Massively OP noticed that Nexon's $100 million "investment" in Bitcoin has dropped by 40%. Maybe it should have invested in something less volatile, like NFTs.)
You can find all the Nexon financials on the company's investor relations page.
About the Author
Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.
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