Nexon: "DNF" and "FIFA Online 4" perform well in China, with record revenue in 2022

CTOnews.com February 11, 2022-Korean gaming company Nexon has released its 2022 results report for the fiscal year ended December 31, 2022.

All year round:

Revenue: $2.69 billion, up 28.9% year-over-year

Net income: $763 million, down 11.6% year-over-year

Fourth quarter of 2022:

Revenue: $618 million, up 49% year over year

Net income: $60 million, compared to $167 million in Q4 2021

Nexon said its poor performance in the fourth quarter of 2022 was mainly due to "a 25 billion yen foreign exchange loss on cash deposits mainly denominated in US dollars," but it said its revenue growth was considerable due to the good performance of Dungeons and Warriors and FIFA Online 4 in China.

Revenue for the full year was mixed, with Nexon noting that "the global situation remains uncertain." While the company said it "delivered record full-year revenue driven by growth in existing games," especially live games, it posted losses across multiple segments.

"Crypto asset investment revaluation losses through exchanges due to changes in market conditions and the share of equity-accounted investment losses recorded under the operating results of equity-method subsidiaries increased year-on-year," the company said.

Looking ahead, Nexon said it will focus on MMO, cross-platform gaming, leveraging its IP and investing in new IP.