Japanese social mobile company GREE (TYO:3632) has announced its Q2 FY12 financials for the 3 months ending December 31.
Net sales were ¥41.5 billion (around $540 million), up 190 percent year-on-year.
Net income was ¥12.7 billion (around $165 million), up 206 percent.
Powering ahead
The company pointed to strong growth with 'paid services' up 39 percent quarter-on-quarter to ¥38.3 billion (around $500 million).
Advertisements were up 10.5 percent sequentially, to ¥3.2 billion (around $41 million).
GREE's aggressive global expansion - it now has nine office locations - increased costs considerably, but sales increased faster, giving GREE another quarter of historical highs.
Away from home
In terms of its user reach, the combined total of GREE in Japan and OpenFeint in North America and Europe was 189 million, up 8.6 percent compared to the previously quarter.
The majority of this growth came from outside Japan, while domestically, subscriber numbers were only up 1.4 percent quarter-on-quarter to 28.9 million.
Big day coming
In terms of overall FY12 sales, GREE expects to have net sales up around 250 percent to between ¥160-170 billion (around $2.2 billion), and net income, also up around 250 percent, to between ¥44-55 billion (around $650 million).
This is up from its previous sales upgrade in October.
In part, this is depends on the company successfully launching the new global, single sign-on version of its social mobile platform - effectively a combination of GREE Japan and OpenFeint.
This will launch with 12 first party and 12 third party games.
The company ended the quarter with cash and cash equivalents of ¥31.6 billion (around $410 million) and total current assets of ¥84.9 billion (around $1.1 billion), up 129 percent year-on-year.
[source: GREE IR/PDF]
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
Top Stories
News
Apr 27th, 2024
PocketGamer.biz Podcast Week in Views E09 - Supercell's Squad Busters goes global, Embracer Group splits, and Apple's Vision Pro flops
News
Apr 26th, 2024
Week in Views - Squads busted, Apple crushed, War zoned and Snoozin' with the Snorlax…
Feature
Apr 26th, 2024
Speaker Spotlight: Dubai Future Foundation's Faisal Kazim on leading Dubai's gaming charge
Events
Dubai GameExpo Summit 2024 | Middle East | May 1st |
The MENA Games Industry Awards 2024 | Middle East | May 2nd |
GameDev Atlantic 2024 | May 4th | |
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
DevGAMM Vilnius 2024 | Europe | Jun 14th |
Develop: Brighton 2024 | Europe | Jul 9th |
Popular Stories
News
Apr 23rd, 2024
Supercell’s Squad Busters soft launches today with over 100,000 Google Play downloads
News
Apr 23rd, 2024