Gameloft Earnings Rise 17% to $55.9M in Third Quarter

Gameloft said its sales rose to 40.6 million euros ($55.9 million) in the third quarter — up 17 percent from the same time a year earlier. Smartphone and tablet sales have grown 60 percent from the same quarter a year ago.

“This growth was driven by sales in emerging countries and by the massive success of Gameloft games on smartphones and tablets around the world,” the company said in a statement. When accounting for the euro’s decline relative to the dollar over the last quarter because of the Greek financial crisis, sales are up 21 percent year-over-year in the third quarter.

Smartphones and tablets now make up more than one-third of Gameloft’s overall earnings at a 34 percent share. This is an unambiguous and unsurprising trend we’re seeing across the board at other comparable publicly-traded companies like Glu Mobile and Electronic Arts, which are having to gradually wind down their feature phone businesses as smartphones pick up. Last quarter, smartphone and tablet sales made up 30 percent of Gameloft’s revenue.

Another big trend we’re picking up in quarterly earnings is the rise of Asia (excluding Japan) as a significant smartphone market. Gameloft said countries outside of Europe and North America made up 43 percent of total sales. Europe pulled in 29 percent of revenues while North America brought in 28 percent of the total share.

Gameloft didn’t share any earnings guidance for next year except to say that it expects continued growth. Gameloft’s latest title, Modern Combat 3: Fallen Nation has been another hit for the company. It’s currently the number three top grossing app on the iPhone, and the number 5 top grossing app on the iPad. The company also alluded to plans around smart- or Internet connected-TVs that could also fuel growth in 2012.

Gameloft shares rose slightly on the news, climbing 0.26 percent to to 3.91 euros or $5.38.