IGG Inc. achieved a net profit of US$13.6 million in Q1 2014, a significant turnaround from the US$3.9 million net loss recorded in the same period of 2013.
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Total revenue grew 206.3% year-over-year to US$44.1 million, driven primarily by the mobile gaming segment which contributed 79.3% of total revenue.
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The mobile title Castle Clash was the primary catalyst for the company's financial growth during the first quarter of 2014.
04
Adjusted net income rose 193.6% to US$13.8 million, despite increased operational, marketing, and research expenditures.
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As of March 31, 2014, the company served 14.5 million monthly active users across 180 countries.
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Strategic expansion efforts included a distribution partnership with Tencent for the Chinese market and the establishment of new R&D subsidiaries in Canada.
07
The company declared no dividends for the period, opting instead to prioritize capital reinvestment and share purchase schemes to support long-term growth.
Insights
01
IGG Inc. achieved a net profit of US$13.6 million in Q1 2014, a significant turnaround from the US$3.9 million net loss recorded in the same period of 2013.
02
Total revenue grew 206.3% year-over-year to US$44.1 million, driven primarily by the mobile gaming segment which contributed 79.3% of total revenue.
03
The mobile title Castle Clash was the primary catalyst for the company's financial growth during the first quarter of 2014.
04
Adjusted net income rose 193.6% to US$13.8 million, despite increased operational, marketing, and research expenditures.
05
As of March 31, 2014, the company served 14.5 million monthly active users across 180 countries.
06
Strategic expansion efforts included a distribution partnership with Tencent for the Chinese market and the establishment of new R&D subsidiaries in Canada.
07
The company declared no dividends for the period, opting instead to prioritize capital reinvestment and share purchase schemes to support long-term growth.