Chinese mobile and online gaming company KongZhong (NASDAQ: KONG) has announced its Q3 results for the three months ending 30 September 2012.
Revenues were $49.9 million, up 28 percent year-on-year.
Net income was $6.2 million, compared to a $17 million loss 12 months ago.
Going mobile
Breaking out the specific figures for mobile games, sales were $5.3 million of this total (or 10.5 percent), down from $10 million in Q3 2011.
The gross profit arising from mobile game operations was $2.5 million, compared to $3.6 million 12 months ago. However, the profit ration in Q3 2012 was 48 percent, up from 36 percent in 2011.
The main reason for this decline is the transition from feature phone to smartphone gaming. Smartphone revenues were $1.8 million, up 33 percent sequentially compared to Q2 2012.
KongZhong's mobile games have been downloaded over 25 million times, with 1.5 million monthly active users recorded during July to September 2012.
It said it's currently pivoting its internal teams to mobile MMORPGs over the next three to six months, with 20 games planned for release in 2013.
Tank rush
As well as mobile games, KongZhong operates online PC and browser games in China; notably Wargaming.net's World of Tanks.
It will also be running World of Warplanes, Meteor's Hawken and ArenaNet's Guild Wars 2 in the country when they are released.
The company generated $21 million in cash flow from operating activities during the quarter, ending the period with cash and cash equivalents worth $98 million, down $1.8 million from its 30 June total.
It plans to spend up to $20 million buying back shares.
[source: KongZhong]
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Related Articles
as
News
Dec 5th, 2016
Chinese World of Tanks publisher KongZhong set to delist itself from the US stock exchange
Top Stories
News
May 31st, 2024
Week in Views - Squad Busters goes global, broken app stores, and Hill Climb Racing gets the LEGO treatment
News
May 31st, 2024
Mobile Movers: All the latest appointments and job moves from around the industry
Events
Indie Game Fest & Indie Campus 2024 | Europe | May 31st |
Indie Craft K-Game Festival 2024 | Europe | May 31st |
BostonFig Online 2024 | Jun 1st | |
GameSummit Summer 2024 | Jun 1st | |
Gotland Game Conference 2024 | Nordic | Jun 3rd |
Games Mental Health Summit 2024 | Europe | Jun 3rd |
Dev Play Conference 2024 | Europe | Jun 3rd |
Tribeca Games Festival 2024 | North America | Jun 5th |