CORAL SPRINGS, Florida,
November 14, 2016 /PRNewswire/ --
Year after year, innovation in mobile gaming technology continue
unabated. SmartPhones, tablets and laptops are coming out
with powerful processors and remarkable features to handle the
latest, highly technological games and app. Industry professionals
are forecasting mobile gamers to continue to pour billions into
various mobile gaming platforms as the gaming user base continues
its shift away from traditional platforms and towards mobile
options. Showing strong results in the sector include:
Activision Blizzard, Inc. (NASDAQ: ATVI), Tapinator,
Inc. (OTC: TAPM), Take-Two Interactive Software, Inc. (NASDAQ:
TTWO), Zynga, Inc. (NASDAQ: ZNGA) and Glu Mobile Inc. (NASDAQ:
GLUU).
Tapinator, Inc. (OTC: TAPM), a publisher of mobile
games on the iOS, Google Play and Amazon platforms, today announced
financial results and the filing of its quarterly report for the
period ended September 30, 2016.
"Tapinator demonstrated strong growth in the third quarter of
2016," stated Tapinator CEO, Ilya
Nikolayev. "Driven by more than 21 million average
monthly active users, our third quarter revenues grew 49%
year-over-year to approximately $1,083,000, representing our ninth
consecutive quarter of at least double-digit year-over-year revenue
growth. Our revenue expansion can be attributed primarily to
the broadening of our Rapid-Launch Games portfolio and, within our
Full-Featured Games division, to the late Q2 launch of Combo Quest
2 on iOS and the continued growth of our Video Poker Classic title
across all major mobile platforms. In addition to our strong
revenue growth, Tapinator is also pleased to announce adjusted
EBITDA (a non-GAAP earnings measure) of approximately $277,000 in the third quarter of 2016, an
increase of 276% year-over-year, and our tenth consecutive quarter
of positive adjusted EBITDA.
Read the full Tapinator (TAPM) Press Release
at: http://marketnewsupdates.com/news/tapm.html
We were very pleased with our third quarter results as we saw
significant year-over-year growth in player engagement, revenue and
adjusted EBITDA, combined with increased diversification of our
revenue base. However, within our Rapid-Launch business, new
player downloads on the Google Play platform slowed, beginning
midway through the third quarter, causing us to take a more
cautious outlook toward our upcoming fourth quarter performance as
more fully described in our Forward Guidance below."
Tapinator (TAPM) Financial Highlights include:
• Quarterly revenues of $1,083,176; up 49% year-over-year
• Nine-month year-to-date revenues of $2,994,262; up 71% year-over-year
• Quarterly adjusted EBITDA* (a non-GAAP measure)
of $277,869; up 276%
year-over-year
• Nine-month year-to date adjusted EBITDA* (a
non-GAAP measure) of $740,490; up 98%
year-over-year
• $750,976 in cash and cash equivalents as of
September 30, 2016
In other Mobile Gaming financial
results in the markets:
Activision Blizzard, Inc. (NASDAQ: ATVI) this month
announced better-than-expected financial results for the third
quarter of 2016. For the quarter ended September 30, 2016, Activision Blizzard's net
revenues presented in accordance with Generally Accepted Accounting
Principles ("GAAP") were a third-quarter record $1.57 billion, as compared with $990 million for the third quarter of 2015, an
increase of 58%. GAAP net revenues from digital channels were an
all-time quarterly record of $1.34
billion, growing 18% quarter-over-quarter and 114%
year-over-year. GAAP earnings per diluted share were a
third-quarter record $0.26, as
compared with $0.17 for the third
quarter of 2015, an increase of 53%. On a non-GAAP (redefined)
basis, the company's earnings per diluted share were a
third-quarter record $0.49, as
compared with $0.20 for the third
quarter of 2015, an increase of 145%.
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) also
earlier this month reported strong results for its fiscal second
quarter 2017, ended September 30,
2016. In addition, the Company provided its initial
financial outlook for its fiscal third quarter 2017, ending
December 31, 2016, and updated its
financial outlook for its fiscal year ending March 31, 2017. For fiscal second quarter
2017, net revenue grew 21% to $420.2
million, as compared to $347.0
million for fiscal second quarter 2016. The largest
contributors to net revenue in fiscal second quarter 2017 were NBA®
2K16, Grand Theft Auto V® and Grand Theft Auto Online, BioShock®:
The Collection, and XCOM® 2.
Zynga Inc. (NASDAQ: ZNGA), a leading social game
developer, recently announced financial results for the third
quarter ended September 30, 2016. In
addition to today's press release, a copy of our Q3 2016 Quarterly
Earnings Letter, which outlines our Q3 2016 financial results and
business outlook, is available on our website at
http://investor.zynga.com. Zynga management will host a live
Q&A session at 2:00 p.m. Pacific
Time (5:00 p.m. Eastern Time)
today to discuss Zynga's Q3 2016 performance. "In Q3, we
executed well on our core business and our new launches. Our
outperformance in the quarter was due to our over-delivery on CSR2
and advertising.
Glu Mobile Inc. (NASDAQ: GLUU), a leading global
developer and publisher of free-to-play games for smartphone and
tablet devices, recently announced financial results for its third
quarter ended September 30, 2016.
"Our third quarter bookings were driven by the continued
traction of Tap Sports Baseball 2016, Cooking Dash 2016 and Racing
Rivals, as well as the launch of Gordon
Ramsay Dash and ongoing success of Kim Kardashian: Hollywood," stated Niccolo de Masi, Executive Chairman of Glu.
"While our third quarter results included royalty impairments from
underperforming titles, we believe that we made meaningful progress
on our evergreen strategy of deepening monetization of our biggest
spenders and most engaged players in our genre-leading live
games."
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