Nexon posts “better-than-expected” Q2 2025-26 results despite revenue, operating income, and net income tumbling YoY

Nexon has released its Q2 2025-26 fiscal year earnings report, claiming “stronger-than-expected results” as Maple Story and Dungeon & Fighter “sustain revitalized momentum” across the period despite revenue, operating income, and net income all tumbling year-on-year.

The collective Q2 revenue of Nexon’s three major franchises — Dungeon & Fighter, Maple Story, and FC Online — was down 13% year over year, “due to the anticipated decline of Dungeon & Fighter Mobile, which launched in Q2 2024.”

The Numbers:

For the second quarter of 2025

• Revenue: ¥118.9 billion ($804.7 million, down 3% year-over-year)
• Operating income: ¥37.7 billion ($255.2 million, down 17% year-over-year)
• Net income: ¥16.8 billion ($113.7 million, down 58% year-over-year)

The Highlights:

Nexon said The First Descendant’s Q2 results “came within the expected range,” with next quarter’s Season 3, launched on August 7, “expected to almost triple quarterly revenue sequentially.”

Conversely, The Finals exceeded expectations, which the publisher attributes to the “well-received” June/Season 7 update. The shooter also began closed alpha testing in China earlier this month.

Nexon added that following a successful tech test in May, ARC Raiders is “building recognition and player excitement.” As GamesIndustry.biz reported earlier today, the game is currently ranked third on Steam’s Top Wishlists chart worldwide. It’s scheduled for release on October 30.

Dungeon & Fighter “delivered a solid recovery” in the second quarter, boosting revenue growth of around 67% year-on-year. However, the total franchise revenue declined by 40% YoY “due to the Q2 2024 mobile launch.” Consequently, Nexon expects a further 45% drop in Q3, although this may be offset by a growth in PC sales.

Maple Story continues to “deliver an exceptional performance,” with revenue growing 60% year over year, “driven by strength in Korea MapleStory and the regional expansion of MapleStory Worlds.” This momentum is expected to carry over into the next quarter with a projected 70% year-over-year growth.

“Nexon delivered a highly positive performance with better-than-expected results in the second quarter,” said Junghun Lee, president and CEO of Nexon.

“We have re-ignited growth in key titles, created momentum for recent launches, and successfully introduced new services to expand our presence in large markets worldwide. And excitement is building for the October 30 launch of ARC Raiders, which is currently ranked as Steam’s [#3] Wishlisted game worldwide.”