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Nexon Financials

GamesIndustry.biz reports on Nexon's latest financial results, saying the company's Korean business full-year revenues held steady "despite declines in China." Word is: "Both Maple Story and Maple Story M in Korea achieved their highest Q4 and full-year revenues in 2019, beating previous records set last year. Maple Story revenue grew 88% year-over-year in Q4, and the mobile version's revenue was up 114%. Full-year revenues were up 39% and 65%, respectively. FIFA Online 4 was also a solid contributor to Nexon's earnings last year, similarly seeing its highest Q4 and full-year revenues and surpassing the peak of FIFA Online 3." Here is an outline some financial specifics:
Nexon reported full-year revenue of 249.5 billion ($2.3 billion), down 2% year over year, operating income of 94.5 billion ($860 million), down 4% year over year, and net income of 115.7 billion ($1.05 billion), up 7% year over year.

For Q4, Nexon announced revenue of 49.2 billion ($448 million), up 7% year over year. Q4 operating income was 4.5 billion ($41 million), up 16% year-over-year, and net income was 3.3 billion ($30 million), down 50% year-over-year.

However, both operating and net income were both below the company's outlook. Operating income was low due to a 9.2 billion ($84 million) impairment loss on assets related to Pixelberry, including good will impairment. Net income, meanwhile, was further hurt due to a 11.4 billion ($104 million) foreign exchange loss on US dollar-denominated cash deposits, mostly offset by a 11 billion ($100 million) in deferred tax assets related to foreign tax credit at Nexon's subsidiary Neople.