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Nexon's Profit Surges 118% in Q1

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Nexon's (TYO:3659) profit attributable to owners of the parent soared 118% to 57.23 billion yen for the first quarter from 26.27 billion yen a year earlier.

Shares of the company were down 11% in morning trade Friday.

The video game company's earnings per share increased to 72.02 yen from 32.07 yen a year ago, according to a Tokyo bourse filing on Thursday.

Revenue jumped 34% to 152.23 billion yen for the three months ended March 31 from 113.93 billion yen in the prior-year period.

For the first half, the company expects attributable profit in the range of 73.3 billion to 80.4 billion yen, basic EPS of 92.64 to 101.60 yen, and revenue of 259.2 billion to 271.9 billion yen.

Nexon plans to pay interim and year-end dividends of 30.00 yen per share each for the year.

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