Nexon posted record Q1 results with net income up 118% year-over-year to $360.7 million, driven by Arc Raiders (16 million total units sold) and the MapleStory franchise. Revenue reached $959.9 million (+34% YoY) and operating income hit $367 million (+40% YoY). A ¥14.5 billion foreign exchange gain boosted net income. Arc Raiders saw 4.6 million new unit sales in the quarter, with players logging 1.5 billion hours. MapleStory franchise revenue grew 42%, though results were partially offset by $42.2 million in refunds from a coding error affecting paid item probabilities. Three projects were cancelled and development resources redeployed. Nexon's Q2 outlook is softer, forecasting revenue down ~10% and operating income down ~57% due to tough year-over-year comparisons.
