Gameloft’s Q1 2013 revenues up 21 percent to $70.1M

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Gameloft logoGameloft yesterday released its earnings for Q1 2013. The French mobile game developer achieved sales of €54.2 million ($70.1 million), up 21 percent over the same quarter a year ago.

Smartphone and tablet revenues increased by 71 percent year-over-year, representing 60 percent of total group sales compared with 43 percent in Q1 2012.

Gameloft attributes its fast growth to the success of the free-to-play model. The company adds that more than 67 percent of its smartphone sales came from in-app purchases and ad revenues in Q1. In terms of which games performed well in the quarter, Gameloft says older titles from as far back as 2011 and 2012 like Dungeon Hunter 4: Zero Hour, World at Arms, My Little Pony, Ice Age Village, Order & Chaos Online, Gangstar Rio: City of Saints and Asphalt 7: Heat, have largely contributed to the company’s strong performance in the first quarter.

Gameloft hopes three recently released titles in the past few weeks including Dungeon Hunter 4, Iron Man 3 and Order & Chaos Duels, help grow sales in future quarters. Gameloft claims Iron Man 3 was the most downloaded game worldwide on the iOS after it was launched. Future releases include Gangstar Vegas, Despicable Me and Uno & Friends.

Gameloft didn’t provide an earnings forecast for Q2 2013. Gameloft’s share price closed today at €5.29 ($6.84), up 0.95 percent.