Nexon Games said on Monday it posted third-quarter consolidated revenue of 38.6 billion won, an operating loss of 22.1 billion won and a net loss of 28.8 billion won.

The revenue decline reflected major live games stabilising at lower levels. Blue Archive posted lower revenue due to a base effect from domestic and global service events in the second quarter, while Hit 2 extended its revenue decline.

The operating loss and net loss were affected by a base effect from a reversal of stock-based compensation expenses (stock grants) that was reflected temporarily in the second quarter. In the second quarter, the company recorded operating profit and net profit as related costs were reversed after stock-based compensation conditions were not met.

Sudden Attack and The First Descendant, meanwhile, maintained steady revenue performance on the back of new events and update effects.

Nexon Games adjusted the launch timing of Dungeon & Fighter Raising (DnF Raising) to the first half of next year to improve the game's quality. It is also continuing to develop new games including Paraydolria, Dungeon & Fighter: Arad and Woochi: The Wayfarer.