Nexon Surges by Record After Profit Triples on Game Sales

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Nexon Co. surged by a record in Tokyo trading after profit more than tripled in the second quarter on revenue from free-to-play online games.

The shares jumped 19 percent, the most since the company’s 2011 listing, to a record close of 1,950 yen. The stock is up 73 percent his year, compared with an 18 percent increase for the Topix index.

Nexon, unlike the makers of mobile games Candy Crush and Clash of Clans, is balancing both PC and mobile games businesses. The company’s MapleStory franchise helped bolster PC revenue, where Nexon brought in three times the total for smartphone games.

“Our largest region in the quarter was South Korea, our second, following closely, was China and our third was Japan,” Chief Executive Officer Owen Mahoney said in an interview on Bloomberg Television Friday. “North America and Europe are starting to come up very quickly.”

Nexon revenue depends on in-game purchases where users buy items for use inside games.

“There are huge differences in tastes between geographic regions and that’s part of our specialty,” said Mahoney.

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