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.
(Shanghai Daily August 12, 2009)