KongZhong Records USD 2.5 Mln Q1 2009 Net Profit
Kongzhong PR, 5/14/09
Chinese wireless value-added services provider and WAP portal operator KongZhong (Nasdaq: KONG) has announced its unaudited financial results for Q1 2009, with total revenues reaching USD 29.6 mln, up 38% year-on-year and 11% quarter-on-quarter.
Net income for the quarter came to USD 2.52 mln compared to net income of USD 0.08 mln in Q1 2008, and USD 0.52 mln in Q4 2008.
WVAS revenues for the quarter were USD 23.66 mln, up 19% YoY and 2% QoQ. Of this, revenues from 2.5G services accounted for approximately 20% of the total and revenues from 2G services represented the remaining 80%.
Total mobile games revenues were USD 4.94 mln, up 304% YoY and 83% QoQ. Revenue from mobile multi-player online games (MMO) accounted for 15% of total game revenue (approximately USD 0.72 mln), an increase of 379% YoY and 11% QoQ. Revenue from downloadable offline games accounted for 85% of total game revenue (approximately USD 4.22 mln), up 293% YoY and 106% QoQ.
Wireless Internet service revenues for the quarter were USD 0.98 mln, up 309% YoY and 24% QoQ.
The company estimates Q2 2009 revenues will be between USD 30.5 mln and USD 31.5 mln.
To view Kongzhong's full earnings report, please click here.
Keywords: KONG Kongzhong profit Q1 2009 revenue WAP portal wireless WVAS fiscal report mobile gaming SP
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