NEXON Co earnings date
NEXON Co (3659N) Q3 2026 Earnings Report
MX:3659N Q3 2026 EPS Results
- Actual EPS
- MXN 5.69
- Consensus EPS
- MXN 2.52
- Beat/Miss
- Beat by +MXN 3.17
- One Year Ago EPS
- MXN 4.79
MX:3659N Q3 2026 Revenue Results
- Actual Revenue
- MXN 16.12B
- Expected Revenue
- MXN 14.87B
- Beat/Miss
- Beat by +MXN 1.25B
- YoY Revenue Growth
- +16.56%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/10/2026
- Time
- Before Open
- Conference Call
- Tuesday, November 10, 2026
NEXON Co's next earnings date is estimated for February 9, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was broadly positive. Q3 results significantly exceeded outlook, 2026 is tracking toward a record year, MapleStory delivered exceptional growth, FC returned to growth, the business showed broader contribution across games and markets, and the transformation and AI initiatives began producing stated efficiency benefits. These positives were partly offset by substantial Dungeon & Fighter weakness, expected Q4 revenue and net income declines, a delayed Arad: Idle RPG launch and lower expected ARC Raiders revenue against its launch-quarter comparison.
For Q4, NEXON expects revenue to be in the range of JPY 107.7 billion to JPY 118.9 billion, representing a 13% to 4% decrease on an as-reported basis, or a 20% to 12% decrease on a constant currency basis year-over-year; operating income is expected to be in the range of JPY 4 billion to JPY 11.7 billion, representing a 44% decrease to 63% increase on an as-reported basis, or a 53% decrease to 46% increase year-over-year on a constant currency basis; and net income is expected to be in the range of JPY 4.7 billion to JPY 10.6 billion, representing a 57% to 2% decrease on an as-reported basis, or 62% to 11% decrease on a constant currency basis year-over-year. The MapleStory franchise is expected to sustain its momentum with revenue growth of approximately 70% year-over-year, Korea MapleStory revenue is expected to grow by strong double digits year-over-year, Global MapleStory revenue is expected to grow approximately 2x year-over-year, MapleStory Worlds revenue is expected to grow approximately 3x year-over-year, FC franchise revenue is expected to grow double digits year-over-year, and Dungeon & Fighter franchise revenue is expected to decline year-over-year. NEXON is also planning for the year-end dividend of JPY 30 per share, bringing the regular annual dividend for 2026 to JPY 60 per share, with a policy to return more than 33% of the prior year's operating income to shareholders, and it will strive to raise ROE to 15% over the mid- to long term.
- Q3 Results Exceeded OutlookQ3 revenue was JPY 138.4 billion and operating income was JPY 41.8 billion, both above outlook. Revenue grew 17% year-over-year and operating income grew 11%. Operating income was close to 30% above the high end of the company's range, and 2026 is on track to be a record year for NEXON.
- Transformation Initiative Began Showing in ResultsManagement said the transformation initiative was reflected in Q3 results for the first time. Costs came in below plan despite higher revenue-related royalties, headcount was essentially flat year-over-year, and six projects were canceled through the greenlight process, with most people and budgets moved to games viewed as having a better chance of becoming lasting hits.
- MapleStory Delivered Record GrowthThe MapleStory franchise grew 72% year-over-year and set a quarterly revenue record for the second consecutive quarter. Growth was driven by MapleStory Classic, MapleStory: Idle RPG, MapleStory Worlds, the core PC business in Korea and global markets, and strong summer and autumn updates.
- MapleStory Classic Showed Strong Market ResponseMapleStory Classic significantly exceeded initial expectations. In China, player inflows reached up to 9x the level of the local live service, while cannibalization of the core live service was described as insignificant and very small. Revenue grew roughly 4x in China, 2x in Taiwan and 33% in the West.
- MapleStory Momentum Expected to ContinueManagement expects the MapleStory franchise to continue its strong momentum into 2027. Q4 franchise revenue is expected to grow approximately 70% year-over-year, with Korea MapleStory expected to grow by strong double digits, Global MapleStory approximately 2x, and MapleStory Worlds approximately 3x year-over-year.
- FC Franchise Returned to GrowthThe FC franchise grew double digits year-over-year and exceeded outlook, led by FC ONLINE, which achieved its highest quarterly revenue. Gameplay and progression improvements pushed average play time to a record high, and promotions including the September Chuseok event performed well.
- Revenue Became More DiversifiedThe collective revenue of the three largest franchises—MapleStory, Dungeon & Fighter and FC—was JPY 108.5 billion, up 24% year-over-year. Management said more games are contributing than a year ago, including FC, ARC Raiders, MapleStory Worlds and MapleStory: Idle RPG, reducing dependence on a single franchise or market.
- ARC Raiders Reached Significant Unit SalesARC Raiders had sold more than 17 million units by the call. The Frozen Trail update, released October 8, brought back players and attracted new players who purchased the game a full year after release. Management plans to support the community and deliver major updates at least twice a year.
- New Releases Expanded the PipelineNEXON launched MABINOGI MOBILE in Japan on October 7 and planned releases of Azur Promilia and TEMPPAL: OVERGEARED for November 26. The broader pipeline includes Vindictus: Defying Fate, NAKWON: LAST PARADISE, Dungeon & Fighter Classic, Arad: Idle RPG and two early-stage games at Embark Studios.
- Dungeon & Fighter Franchise Expansion UnderwayNEXON is expanding Dungeon & Fighter through Arad: Idle RPG, Dungeon & Fighter: Arad, Dungeon & Fighter Classic and Project Overkill. Project Overkill is being developed by Neople and published by Tencent as an online action RPG with modernized combat physics and visuals.
- AI Tools Improved Development EfficiencyManagement said AI allows a team to build five versions of a mechanic in the time previously required to build one. Converting designers' artwork into Pixel art became more than 10x faster, and AI-assisted hyper-localization became several times faster while maintaining the quality needed to reflect local cultures.
- AI Investment Is Being Measured in StagesNEXON has begun applying AI to shared localization, code review, asset discovery and initial quality checks. The company is measuring each tool against a baseline and releasing investment in stages against results, while emphasizing that the objective is to make better games with existing employees rather than make the same games with fewer people.
- Expense Management Was Favorable in Q3Total costs were below plan. Marketing costs were below plan partly because promotional schedules shifted, HR costs were lower as headcount tracked below expectations, and cloud service fees were also below plan. Lower costs more than offset higher-than-planned royalties from FC ONLINE and MapleStory: Idle RPG outperformance.
- Net Income Exceeded OutlookNet income was JPY 38.1 billion, above outlook, mainly due to operating income outperformance and a JPY 7.5 billion valuation gain on funds.
- Capital Returns and Balance Sheet FlexibilityThe Board approved a special dividend of JPY 415 per share, totaling approximately JPY 324 billion or approximately $2 billion, payable November 25 to shareholders of record as of September 30. The planned year-end dividend is JPY 30 per share, bringing the regular annual dividend for 2026 to JPY 60 per share. Management said the balance sheet remains strong after the special dividend and that the company aims to raise ROE to 15% over the mid- to long term.
- Earnings Distribution Expected to Broaden in 2027Management expects less deferred revenue in the first half of 2027 and a large number of releases in the second half to distribute earnings more broadly across all four quarters, compared with the historically stronger first half.
MX:3659N Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 09, 2027 | 2026 (Q4) | 1.09- | 1.4 | ― | ― |
| Nov 10, 2026 | 2026 (Q3) | 2.525.69 | 4.79 | 18.98% (+0.91) | |
| Aug 13, 2026 | 2026 (Q2) | 2.183.79 | 2.11 | 79.88% (+1.68) | |
| May 14, 2026 | 2026 (Q1) | 4.907.28 | 3.24 | 125.19% (+4.05) | |
| Feb 12, 2026 | 2025 (Q4) | 4.491.40 | 3.9 | -64.06% (-2.50) | |
| Nov 11, 2025 | 2025 (Q3) | 3.104.79 | 3.29 | 45.67% (+1.50) | |
| Aug 13, 2025 | 2025 (Q2) | 2.952.11 | 4.8 | -56.12% (-2.69) | |
| May 13, 2025 | 2025 (Q1) | 3.133.24 | 4.31 | -24.90% (-1.07) | |
| Feb 13, 2025 | 2024 (Q4) | 0.503.90 | -2.64 | 247.60% (+6.54) | |
| Nov 12, 2024 | 2024 (Q3) | 4.973.29 | 4.16 | -20.98% (-0.87) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
