Mobile developer Gameloft sees record-breaking quarter

Mobile developer Gameloft, known for its successful free-to-play licensed titles as well as in-house IPs such as Real Football, reports a record-breaking surge in revenues worldwide in the last three months, to $81.1 million. Assuming a constant exchange rate, this represents a 31 percent increase year-on-year for the comparable three-month period in 2012. Additionally, Gameloft's revenues are up by 17 percent over the previous financial quarter ending in June. Sale increases rose proportionally in most markets, with the greatest growth being seen in North America (32 percent), followed by Europe, the Middle East and Africa (31 percent). Growth was smallest in Asia-Pacific territories (16 percent). The company attributes these figures largely to its free-to-play business model, saying that sales of virtual goods and in-game advertising constituted 80 percent of its revenue on smartphones. Back catalog also performed well: 80 percent of revenues in 2013 were driven by properties released in 2012 or earlier. Cresting high on these numbers, Gameloft projects its year-end revenues to fall between $316.5 million and $323.2 million.