Nexon Achieves Record Revenue in 2022, Despite 11% Decline in Net Income

Nexon has announced its financial results for the fiscal year ending December 31, 2022. Key highlights include: - Annual revenue of ¥353 billion ($2.69 billion), marking a 28.9% year-over-year increase - Annual net income of ¥99.9 billion ($763 million), representing an 11.6% year-over-year decline In Q4 2022, the company saw: - Revenue of ¥81 billion ($618 million), up 49% from the same period in 2021 - A net loss of ¥7.93 billion ($60 million), compared to a net income of ¥21.9 billion ($167 million) in Q4 2021 Nexon attributed its Q4 net loss to a ¥25 billion foreign exchange loss on US dollar-denominated cash deposits. However, the company's revenue growth was driven by strong performances from Dungeons & Fighter and FIFA Online 4 in China. The company noted that its mobile business in Korea underperformed, while the global situation remained uncertain. Despite achieving record-breaking full-year revenue, Nexon recorded losses in several areas, including investments in crypto-assets and equity method affiliates. Looking ahead, Nexon will focus on developing massively multiplayer online games, cross-platform titles, and leveraging its intellectual properties, as well as investing in new IPs.