Nexon-Q1 earnings

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Nexon-Q1 earnings

Nexon's Q1 net profit jumps 31 pct on strong sales

SEOUL, May 11 (Yonhap) -- South Korea's online gaming giant Nexon Co. said Thursday its net income jumped 31 percent for the first quarter from a year earlier amid strong sales.

Net profit came to 507.1 billion won (US$381.9 million) for the January-March period, compared with 397.9 billion won a year earlier, the Japan-listed company said in a filing.

Sales were up 36 percent on-year to a record 1.19 trillion won for the three-month period, with its operating profit soaring 46 percent on-year to 540.6 billion won.

Nexon said its brisk first-quarter sales were led by the continued popularity of online games, such as "Dungeon & Fighter" and "FIFA Online 4."

Revenue from the South Korean market accounted for 52 percent of its sales for the first quarter, while 35 percent was from China.

Nexon was founded in South Korea in 1994 but is headquartered in Japan. The company's stocks were listed on the Tokyo stock exchange in late 2011.

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