Chinese mobile app store and publisher SkyMobi (NASDAQ:MOBI) has announced its FY14 Q2 financials, for the three months ending 30 June 2014.
Total revenues were $27.4 million (RMB 170 million), up 32 percent quarter-on-quarter, or 36 percent year-on-year.
Revenues from smartphones were $21.4 million (RMB 133 million), up 51 percent.
This is 77 percent of total revenue, up from 68 percent in the previous quarter.
Net profit was $10.4 million (RMB 63.4 million), up 1,270 percent.
SkyMobi ended the quarter with cash and equivalents of $6.3 million.
Nothing casual about that
Looking at SkyMobi's smartphone revenues in more detail, sales from single player games were up the most; 63 percent to $15 million.
Sales from multiplayer games were up 27 percent to $4.2 million, while advertising revenue was up 32 percent to $2.1 million.
Sales from single player games were up 63 percent to $15 million.
ARPU from single player games was RMB 8.8 compared to RMB 26 million for multiplayer games.
SkyMobi's MaoPao platform added around 450,000 new user per month during the quarter, and has 30 million monthly active users.
It says 11.9 percent of its users are payers, although this number is heavily skewed towards the paid downloads of casual games rather than in-app purchases in multiplayer games.
From the top
CEO Michael Tao Song said that "deep collaboration with telecom operators" had helped the company expand the offline presence of the pre-loaded Maopao store to over 40,000 telecom stores in China. This is particularly important for its single player casual game portfolio.
SkyMobi also works with online channels such as Tencent, Baidu/91, Xiaomi and Qihoo 360 to distribute its games.
He added, "As we continue to expand our international footprint, we have selected several games developed in China to be localized and distributed in Singapore, Malaysia, Thailand and Vietnam.
"By entering into direct partnerships with major local telecom operators to facilitate game distribution and monetization, we are able to create win-win situations for both the telecom operators and SkyMobi."