Nexon has promised shareholders to renew its focus on quality this week as its first quarter results show revenue and profit growth have slowed. What will this mean for Vindictus? Pt 1 of 2.
Part 1 - Financial Results
Nexon is shifting its primary focus to quality and quality games that have the ability to run long term. Read more about the "go forward strategy" which includes a potential stir up for Vindictus in Part 2 of our First Quarter Review.
Nexon wrapped up the First Quarter of 2014 with better than projected results for fiscal performance in the in most regions while North America and European profits took a hit. Owen Mahoney President and CEO of Nexon issued this statement with the 2014 1st Quarter Investor Presentation:
"We are pleased that our first quarter results exceeded the high end of our outlook due to the strength of our PC online business, particularly the contribution from the Lunar New Year update for Dungeon&Fighter in China and the continued strength of existing titles in Korea. We also achieved quarter-over-quarter mobile revenue growth based on strong new native title launches."
Mr. Mahoney issued his first message from the helm of Nexon, exhibiting a distinct shift in gears. His call to focus the company on quality was reiterated in his first CEO Message. Standing firmly on the projected success of future endeavors, Mahoney made it clear that he is willing to sacrifice some games and avenues in order to have a portfolio of games that Nexon can truly be proud of.
"Going forward, we will sharpen our focus on quality across all platforms. At our core we are in a creative industry, and the only way to succeed is to create high-quality games that deliver fun and unique gaming experiences to our players around the world." - Owen Mahoney
|Nexon Q1'14 Investor Presentation, CEO Message|
The Nexon Investor presentation outlined the First quarters financial results in a 28-page spread identifying each region, its subsidiaries and their performance points. Results from the West were less than spectacular but North America did manage to perform better than European markets with less overall loss in both Year over Year and Constant Currency measures. Vindictus performs as a part of both NA and EU.
The plus side is that the upcoming is noted in the highlights and is expected to improve profits of both next quarter and beyond.
Find out more about the strategy to improve quality and what that might mean for Vindictus in Part 2: Focus on Quality - Q1 Strategy.
|Nexon - Q1'14 Western Highlights|
|First Quarter 2014 Results|
Overall nice presentation, big improvement
Nexon First Quarter 2014 Results