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Game firm鈥檚 profit soars on varied portfolio
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IDREAMSKY Technology Ltd, a Shenzhen-based mobile game distributor, said yesterday that its third-quarter net profit soared 235 percent year on year after the firm raised US$115.5 million on Nasdaq in August.
IDreamSky, which distributes popular mobile games Fruit Ninja and Temple Run in China, made 37.4 million yuan (US$6.1 million) in the July-September period.
The company reversed its red ink of US$116.4 million yuan in the second quarter.
Its revenue soared 276.2 percent from a year ago to 294.5 million yuan. Its average monthly active user base reached 122.0 million, up 27.7 percent from a year ago.
Michael Chen, CEO of iDreamSky, said revenue grew as the firm diversified its portfolio with over 10 new games and expanded its pipeline by cooperating strategically with globally renowned content providers such as Disney, Halfbrick and Kiloo.
IDreamSky, whose investors include Tencent and Lenovo, predicted that the company’s fourth-quarter revenue would surge 243-261 percent year on year to 390-410 million yuan.
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