With NCSoft’s overall revenue entering a downward trend, their primary cash cow, Lineage M, has taken a significant hit.

NCSoft officially disclosed their Q3 2025 financial results on the 11th. Revenue stood at 360 billion KRW, a 10% decline compared to the same period last year, and they recorded an operating loss of 7.5 billion KRW. This operating loss is attributed to the general revenue slump and the reflection of severance pay.

The mobile gaming segment is also seeing a cooling trend. Accounting for 55% of the total Q3 revenue, mobile game earnings dropped by approximately 22% year-on-year to 197.2 billion KRW. Specifically, the powerhouse 'Lineage M' saw its performance slide to 105.3 billion KRW, a 33.7% decrease compared to the same period last year.

PC online game revenue rose 9% year-on-year to reach 87.7 billion KRW, accounting for 24% of the total revenue. While PC Lineage, Aion, and Guild Wars 2 saw minor dips, a surge in 'Blade & Soul' revenue helped offset the shortfall.

All eyes are now on the upcoming 'Aion 2' to see if it can drive NCSoft's revenue and operating profit.