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August 12, 2009

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Better Q2 earnings on gaming

NASDAQ-LISTED Kongzhong Corp posted a better-than-expected second-quarter result yesterday, thanks to a rise in revenue from mobile games in the Chinese market, which has the world's biggest number of mobile phone users.

Kongzhong, a wireless value-added service provider, earned a net profit of US$3.55 million in the second quarter, more than 10 times compared with the same period a year ago and a rise of 41 percent from the previous quarter.

Kongzhong's revenue in the second quarter totaled US$32.3 million, a year-on-year growth of 37 percent, exceeding the firm's previous estimates of between US$30.5 million and US$31.5 million.

In the quarter, Kongzhong's mobile game revenue soared 368 percent year on year to hit US$6.8 million, according to the statement.

"Kongzhong continued to grow its overall profit, driven by strong growth in our mobile games business," said Wang Leilei, the company's chairman and CEO.



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