Dungeon & Fighter in China drives Nexon above expectations

[mmopm]

Asian online game giant Nexon reported fourth quarter revenues that were down from a year ago but exceeded the company’s own outlook. The better-than-expected revenues were due in part to an update for Dungeon & Fighter in China.Fourth quarter revenues were 43.3 billion yen ($380 million) down 6 percent year-over-year. Operating income was 7.3 billion yen ($64 million) below the company’s outlook primarily due to impairment loss of 3.7 billion yen on prepaid royalties related to publishing titles.

“Our unique ability to develop and operate engaging distinctive games that cultivate thriving interactive communities and grow steadily over the long term continued to drive value and results in 2016 fourth quarter,” said Nexon CEO Owen Mahoney in a statement. “We continue to see strong performance across our portfolio of games including storied hits like Dungeon & Fighter in China as well as titles like EA Sports FIFA Online 3 EA Sports FIFA Online 3 M in Korea and Hit in Taiwan and Thailand.

Together their performance helped drive fourth quarter revenue that was above expectations. Heading into 2017 we have an exceptionally strong pipeline including titles such as Durango Dynasty Warriors and Dark Avenger 3 that we believe will continue to validate our proven and differentiated approach.”