WeMade sees FY14 Q3 mobile game sales rise 4% to $16.5 million

Focused on local market

WeMade sees FY14 Q3 mobile game sales rise 4% to $16.5 million

Korean online and mobile game publisher WeMade (KOSDAQ:112040) has announced its FY14 Q3 financials, for the three months ending 30 September 2014.

Total income was $39.5 million (KRW 41.8 billion), down 2 percent quarter-on-quarter, and down 24 percent year-on-year.

In terms of income from mobile games, it was down 47 percent year-on-year, although up 4 percent quarter-on-quarter to $16.5 million (KRW 17.4 billion).

The reason give was launch of Café Storia and a general increase in international revenues.

Overall, during the quarter, WeMade made a net loss of $900,000 (KRW 965 million).


WeMade generates the majority of its sales from its domestic market - 58 percent during Q3.

Its mobile game sales are even more focused on Korea, however, with the domestic market accounting for 76 percent of mobile revenues during the quarter.

In particular, many of WeMade's mobile games are integrated with Korean mobile social platform Kakao.

The company ended the quarter with current assets worth $124 million.

[source: WeMade]

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