NCSoft Q4 2023 Financials Show Slight Revenue Growth But Still Far Below 2022 Earnings

It looks like things are starting to pick up for NCSoft as the South Korean video game publisher finally sees a 15% increase in revenue after a three-quarter drop, according to its Q4 2023 financial report. It’s still far below the company’s Q4 2022 and annual revenues are still down by 31% compared to 2022 but it’s a start.

To be fair, every other video game company also struggled throughout 2023 as interest in video game began to die down as the world slowly returned to normal after the COVID-19 pandemic.

NCSoft attributes the slight growth to the strong performance of Guild Wars 2, although revenue breakdowns for each game were conspicuously absent from the report. That means that there’s also no data on how Throne and Liberty performed during its debut quarter.

The last time that the company withheld information in a financial report was when it started lumping WildStar sales into “Other Sales” two years before the game was shut down. During the accompanying investor call, NCSoft itted that Throne and Liberty underperformed but that its working to fix the persistent launch issues and hopefully turn things around for the fantasy MMORPG.

Mobile sales also picked up and is up 9% quarter-over-quarter but is still down 38% year-over-year. PC sales, on the other hand, dipped by 1% but is down by just 6% compared to the same period last year.