Nexon posts "record-breaking revenue" in 2024 despite The First Descendant performing "below expectations"Financial reports also confirm it expects to launch seven new games by 2027Image credit: Nexon News by Vikki Blake Contributor Published on Feb. 17, 2025 Maple Story publisher Nexon has released its 2024 fiscal year earnings report, posting record-breaking revenue for the second consecutive year.The Numbers:Revenue: 446.2 billion, up 5% year-over-yearOperating income: 124.2 billion, down 8% year-over-yearNet income: 134.8 billion, up 91% year-over-yearThe Highlights:Whilst Q4 revenue was down 6% year-over-year (YoY), Nexon "delivered record-breaking full-year revenue" across the full year. Net income was up 84%, although Nexon attributes that to an increased FX gain on cash deposits and "an impairment charge recorded in 2023 on investment in an equity-method company," which was not repeated in 2024.The firm reiterated that strengthening and extending established franchises remains a key focus for reaching its 2027 mid-term plan, with its three largest franchises MapleStory, Dungeon&Fighter, and FC growing in aggregate by 10% from 300.7 billion in 2023 to 330.7 billion in 2024, and represented 74% of its 2024 revenue versus 71% in 2023.Shooter The First Descendant came in "below expectations [...] due to a decline in traffic attributable to lack of fresh content." However, Nexon said the Season 2 Update released in December "improved retention."Nexon has secured a co-development agreement with Tencent to bring "additional creative resources" for the development of its Dungeon&Fighter Franchise in China. Under the agreement, Tencent will provide additional production capacity for "hyperlocalization, creating new experiences, and adapting the game to meet evolving trends strategies aimed at attracting a wide range of players in Chinas large game market."Looking aheadNexon expects revenue across Q1 2025 to increase by 1% to 13% year-over-year."Following record-breaking revenue in 2024, Nexon is committed to strengthening established franchises like Dungeon&Fighter for sustained growth and profitability," said Junghun Lee, president and CEO of Nexon."A disciplined increase in our own creative force, plus a new co-development agreement with Tencent, will provide the resources needed to drive growth. Additionally, seven new games scheduled for launch by 2027, each have potential to generate annual revenue over 10 billion ($66m). We have the vision, plan, and balance sheet to drive significant growth in the years ahead."