Com2uS revenues dip quarter-over-quarter to $19.5M in Q4

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By Scott Reyburn Comment

Mobile game developer and publisher Com2uS reported revenues of 21.2 billion KRW ($19.5 million) and profits of 3 billion KRW ($2.8 million) in Q4 2012. Both revenues and profits quarter-over-quarter for the South Korean company were down by five percent and 60 percent, respectively. Last quarter, Com2uS saw 22.4 billion KRW ($20.5 million) in revenue and 7.5 billion KRW ($6.8 million) in profit. However, both revenues and profits were up year-over-year, with an 89 percent increase in revenues and 145 percent increase in profits.Com2uS logo

Com2uS’ smartphone revenues for Q4 were 19.8 billion KRW ($18.2 million), up from 138 percent in Q4 2011 at 8.3 billion KRW ($7.6 million), but down 6.2 percent quarter-over-quarter. Smartphone sales attributed to 93 percent of the company’s total revenue, slightly down from 94 percent in Q3 2012. The company saw stable revenue from existing games like Tiny Farm and from titles within the Kakao Talk Game Center like Com2uS Homerun King, Derby Days and Tiny Pang.

Sales in South Korea accounted for 64 percent of total sales in 2012 at 49.1 billion KRW ($45.1 million), up 163 percent from 2011 domestic sales of 18.6 billion KRW ($17.1 million). Overseas sales for Com2uS in Q4 were down 17 percent quarter-over-quarter at 6.7 billion KRW ($6.1 million), although up 18 percent year-over-year. The company said launch delays of new games led to the quarter-over-quarter smartphone and international revenue decreases.

Com2uS also revealed its earning estimates for 2013, expecting 101.7 billion KRW ($93.3 million) in revenue, which would be a 32 percent increase from 76.9 billion KRW ($70.6 million) in 2012. The company also estimated 24.1 billion KRW ($22.1 million) in profit, up 18 percent from 20.5 billion KRW ($18.8 million). Other plans for the company in 2013 include launching approximately 50 new games (33 in-house, 17 third-party), an app to compete with messenger apps KakaoTalk and Line and expanding to core — the U.S., Japan and China — markets through local platforms.Com2uS Q4 2012 financial resultsCom2uS 2013 earnings estimates