GREE booms another record quarter with Q3 FY12 sales up 182% to $560 million

GREE booms another record quarter with Q3 FY12 sales up 182% to $560 million
Japanese social mobile gaming company GREE (TYO:3632) has announced its Q3 FY12 financials for the three months ending March 31.

Net sales were a record ¥46.2 billion (around $560 million), up 182 percent year-on-year.

This was split between in-app purchases (93%) and in-app adverts (7%).

Net income was ¥13.5 billion (around $162 million), up 186 percent.

GREE noted its expenses such as wages (up 86% year-on-year) and data center costs had increased due to its global expansion drive, but sales increased faster.

Swimming in money

In terms of audience, GREE said it had 234 million users, including OpenFeint. Of these, just over 30 million are in Japan and provide the vast bulk of the company's revenue.

Although the all-cash $210 million Funzio acquisition didn't have any impact on its financials this quarter (in terms of sale or cash payment), GREE did break out some details.

Pointing out the Funzio's three games have had 20 million downloads, GREE said the purchase gave it "development and operational expertise in tactical roleplaying" in Europe and North America.

It also said Funzio had sales of $5 million during April when it launched its third game Kingdom Age.

GREE ended the quarter with ¥51.7 billion (around $625 million) in cash and equivalents, up ¥20 billion (around $240 million) from three months ago.

[source: GREE (PDF)]
Contributing Editor

A Pocket Gamer co-founder, Jon is Contributing Editor at 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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