Chinese wireless value-added service provider and WAP portal operator Kongzhong (Nasdaq: KONG) has announced its unaudited financial results for Q2 2008, with net revenues reaching USD 23.52 mln, up 38.7% year-on-year and 10% quarter-on-quarter.
Net income for the quarter came to USD 0.3 mln, up 669% YoY and 241% QoQ.
Total WVAS revenues for the second quarter increased 9% quarter-on-quarter and 38% year-on-year to USD 23.13 mln. Revenues from 2.5G services accounted for approximately 33% of total WVAS revenues and revenues from 2G services represented the remaining 67%.
Total mobile advertising revenues, which were mainly generated from Kongzhong's WAP sites, were USD 357,000, up 60% YoY and 68% QoQ.
The company estimates Q3 2008 revenues will be between between USD 23.5 mln and USD 24.5 mln.
To see Kongzhong's full report, please click here.