Kongzhong Records USD 3.55 Mln Q2 2009 Net Income
Kongzhong PR, 8/11/09
Chinese wireless value-added services (WVAS) provider and WAP portal operator KongZhong (Nasdaq: KONG) has announced its unaudited financial results for Q2 2009, with total revenues reaching USD 32.3 mln, up 37% year-on-year and 9% quarter-on-quarter.
Net income for the quarter came to USD 3.55 mln, compared to net income of USD 0.3 mln in Q2 2008, and USD 2.52 mln in Q1 2009.
WVAS revenues for the quarter were USD 23.93 mln, up 10% YoY and 1% QoQ. Of this, revenues from 2.5G services accounted for approximately 21% of the total and revenues from 2G services represented the remaining 79%.
Total revenue from mobile games was USD 6.8 mln, up 368% YoY and 38% QoQ. Revenues from mobile multi-player online games (MMO) were USD 1.76 mln, an increase of 497% YoY and 144% QoQ. Revenues from downloadable games were USD 5.04 mln, up 335% YoY and 19% QoQ.
Wireless Internet service revenues for the quarter were USD 1.56 mln, up 300% YoY and 58% QoQ. In Q2 2009, 41% of the wireless internet service revenues were from wireless advertising while the remaining 59% came from premium services on the Kong.net wireless internet site, including virtual item sales and cross-selling of mobile game and WVAS services.
The company estimates Q3 2009 revenues will be between USD 34 mln and USD 35 mln.
To view Kongzhong's full earnings report, please click here.
Keywords: mobile advertising wireless Q2 2009 WAP portal WVAS 2.5G Kong.net Kongzhong KONG mobile gaming profit revenue fiscal report virtual items wireless broadband SP
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