[NX] Nexon Records 2011 Revenue Of US$1.12 Billion

I very, very, very highly recommend reading Nexon’s ‘Financial Deck’. It’s an incredibly interesting and fun read. See it at http://ir.nexon.co.jp/cms/pdf/news1179206693609361.pdf. Some details on MapleStory 2 have been revealed and a post on this will be coming soon.

It’s official. Tokyo-based Nexon Co. Ltd. is now the first Korean gaming company ever to record over US$1 billion and 1 trillion South Korean Won (KRW) in annual revenue. Less than two months after Nexon went public with a US$1.2 billion initial public offering and cemented itself as one of the largest gaming companies globally (some say the third biggest) with a company value near US$7 billion, Nexon has finally realized the goal that they narrowly failed to meet with a still market leading US$878 million in revenue for 2010. Nexon’s operating income was US$493 million (38 billion Japanese Yen (JPY); 552 billion KRW) and net income of US$332 million (25 billion JPY; 372 million KRW). Revenue was up 26%, operating income up 27% and net income up 19%.

The anticipation of Nexon’s annual revenue report and the actual report has caused Nexon’s stock prices to rise quite significantly, growing 2.24%, 2.02% and 1.94% for the past three days. You can track Nexon’s listing on the Tokyo Stock Exchange (3659:JP) at http://www.bloomberg.com/quote/3659:JP.

Nexon America recorded revenue of US$80 million, growth driven by the releases of Dragon Nest and MapleStory Adventures. Despite the increased revenue, Nexon America recorded losses of US$9.6 million due to “recruitment of human resources”. “In North America, we believe that over time, our existing titles such as Combat Arms and MapleStory, and several other new published games will drive further growth”.

I’ll post anything else I  find really interesting from their financial report here as I read through it.

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