iDreamSky posts 235% gain in profit on diversified businesses

By Zhu Shenshen | November 26, 2014, Wednesday |

Online Edition

IDREAMSKY Technology Ltd, a Shenzhen-based mobile game distributor invested by Tencent and Lenovo, posted a net profit jump of 235 percent year-on-year, in the first fiscal report after it raised US$115.5 million in Nasdaq in August.

IDreamSky, which distributed popular mobile games Fruit Ninja and Temple Run in China, posted a net profit of 37.4 million yuan (US$6.1 million) in the quarter, compared with a loss of 116.4 million yuan in the second quarter.

Revenue was 294.5 million yuan, up 276.2 percent from a year ago. Its average monthly active user base reached 122.0 million, an increase of 27.7 percent from a year ago.

Revenue growth came from diversifying portfolios with more than 10 new games and expanding its pipeline by entering into strategic cooperation with globally renowned content providers such as Disney, Halfbrick and Kiloo, said Michael Chen, Chief Executive Officer of iDreamSky.

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iDreamSky posts 235% gain in profit on diversified businesses

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