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Perfect World praises mobile's 'meaningful revenue contribution' as Q1 FY14 sales rise 44% to $143m

Perfect World praises mobile's 'meaningful revenue contribution' as Q1 FY14 sales rise 44% to $143m

Chinese games publisher Perfect World (NASDAQ: PWRD) has announced its unaudited financials for Q1 FY14, the 3 months ending 31 March 2014.

Total revenues were $143 million, up 44 percent year-on-year.

Net income was $32.4 million, up 54 percent.

"Our total revenues came in line with the high end of our expectations, which was slightly softer than the strong fourth quarter of 2013," said CEO Robert Xiao.

"In the first quarter of 2014, we decelerated promotional activities for our client-based MMORPGs and remained focused on content development of our portfolio and pipeline.

"However, we are pleased with the continued growth and meaningful revenue contribution of our mobile games in the quarter."

Mobile flying high

He pointed to the strong success of RPG Return of the Condor Heroes in China. Perfect World will release its first 3D RPG mobile game Fantasy of the Immortals later in 2014.

Other mobile games in development include Forsaken World, Touch, CrossGate Mobile and Swordsman Mobile.

"Looking forward, we will remain committed to bolstering our competitive edge based on our diversified portfolio, extensive global operating network and solid global R&D capabilities as we look to sustain the long-term growth of our business," Xiao added.

This is something we recently discussed with him at the GMIC Beijing conference. 

Perfect World ended the quarter with cash and equivalents worth $257 million.

[source: PRNewswire]


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.

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