CMGE Q3 2012 Profit Drops 93% YoY
CMGE, 11/28/12
Mobile game developer China Mobile Games and Entertainment Group (Nasdaq: CMGE) has announced its financial results for the three months ended September 30, 2012. Q3 2012 total net revenues were RMB 43.6 mln (USD 6.9 mln), down 30.9% YoY from RMB 63.1 mln in Q3 2011 and down 28.1% QoQ from RMB 60.7 mln in the prior quarter.
Net income was RMB 1.6 mln (USD 0.3 mln), down 93.4% YoY from RMB 24.2 mln in Q3 2011 and down 93.1% QoQ from RMB 23.4 mln in Q2 2012.
Feature phone game revenues were RMB 30.7 mln (USD 4.9 mln), a decrease of 13.6% YoY from RMB 35.5 mln in the same period last year and a decrease of 23.8% QoQ from RMB 40.3 mln in the prior quarter. The decline was primarily attributed to the migration of consumers from feature phones to smartphones.
Smartphone game revenues were RMB 10.9 mln (USD 1.7 mln), a decrease of 32.3% YoY from RMB 16.2 mln in the same period last year and a decrease of 39.3% QoQ from RMB 18.0 mln in the prior quarter. China Mobile, the Company's service provider for all of its smartphone single-player game bundles, has continued to tighten its policy on the number of pop-up advertisements broadcast to its users.
Handset design revenues were RMB 2.0 mln (USD 0.3 mln), which were mainly derived from feature phone design. This represented an 82.6% YoY decrease from the corresponding period in 2011 and an 18.4% QoQ decrease from the prior quarter as market demand continues to shift strongly from feature phones to smartphones.
Total paying user accounts for feature phone single player games were 9.8 mln, compared with 11.7 mln in Q3 2011 and 12.6 mln in Q2 2012, and average revenue per paying user account (ARPU) was RMB 2.92, compared with RMB 2.94 in Q3 2011 and RMB 3.03 in Q2 2012.
Total paying user accounts for feature phone social games were 37,638, as compared with 16,593 in Q3 2011 and 32,494 in Q2 2012, and ARPU was RMB 57.14, compared with RMB 64.82 in Q3 2011 and RMB 57.76 in Q2 2012.
Total subscriptions for smartphone single player games were 1.2 mln in the third quarter of 2012, compared with 2.3 mln in Q3 2011 and 1.7 mln in Q2 2012, and average revenue per subscription was RMB 4.06, as compared with RMB 4.73 in Q3 2011 and RMB 4.79 in Q2 2012.
Total paying user accounts for smartphone social games were 30,357, as compared with 216,423 in Q3 2011 and 126,301 in Q2 2012, and ARPU was RMB 199.89, as compared with RMB 24.80 in Q3 2011 and RMB 80.12 in Q2 2012.
To view the complete report please see here.
Keywords: mobile online gaming design house feature phone handset smartphone profit revenue wireless CMGE single-player game Q3 2012 mobile gaming fiscal report social game
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