NC swings to profit, Nexon beats expectations as Krafton struggles

Korean game developers have reported mixed third-quarter earnings. NC returned to profitability from a year earlier, while Nexon defied market pessimism with solid revenue from its live service games. Krafton, meanwhile, saw its operating profit decline as revenue from PUBG: Battlegrounds (PUBG) failed to keep pace with rising costs associated with its business diversification efforts. NC announced its third-quarter earnings Wednesday, reporting sales of 686.5 billion won ($514.2 million) and an operating profit of 119.6 billion won. Revenue surged 91 percent year-on-year, while the company swung to an operating profit from a loss of 750 million won in the same period last year. Overseas sales accounted for 54 percent of total revenue, marking the fifth consecutive quarter of growth in their share, as the company continued to expand its global revenue base, particularly in North America and Europe. Notably, revenue from mobile casual games increased from the previous quarter to 171.9 billion won. The segment accounted for 25 percent of total revenue, contributing to the diversification o