Global Mobile Gaming Industry Growing at a Rapid Pace -
Forecasted To Generate $37 Billion In Revenues In 2016; Company
Reports 106% Increase in Revenues
Coral Springs, FL -- May 5, 2016 -- InvestorsHub NewsWire
-- As consumers continue to gravitate towards on-the-go gaming
options, mobile gaming continues to make its way towards eventually
passing consoles and PCs in popularity, presenting rapid growth
potentials for Gaming companies. Gaming developers and Publishers
with current developments of note in the markets today are
Tapinator, Inc. (OTC:
TAPM), Zynga Inc. (NASDAQ:
ZNGA), Electronic Arts Inc. (NASDAQ:
EA), Glu Mobile Inc. (NASDAQ:
GLUU), Activision Blizzard (NASDAQ:
ATVI).
Tapinator, Inc. (OTC:
TAPM), an emerging growth company within the mobile gaming
industry, today announced financial results and the filing of its
quarterly report for the three months ended March 31, 2016.
Tapinator showed rapid business expansion in the first quarter of
2016, stated Tapinator CEO, Ilya Nikolayev. Our first quarter
revenues grew 106% year-over-year to approximately $849,000,
representing our seventh consecutive quarter of at least
double-digit year-over-year revenue growth. Our revenue expansion
can be primarily attributed to the continued broadening of our
Rapid-Launch Games portfolio, as well as to a select number of
Full-Featured Games that we believe have significant franchise
potential. In addition to our strong revenue growth, Tapinator is
also pleased to announce adjusted EBITDA (a non-GAAP measure) of
approximately $221,000 in the first quarter of 2016, an increase of
97% year-over-year, and our eighth consecutive quarter of positive
adjusted EBITDA.
Read the full Tapinator (TAPM)
Financial Report at http://www.financialnewsmedia.com/profiles/tapm.html
We are very pleased with our first quarter results as we saw
significant acceleration of both year-over-year player and revenue
growth rates as compared to the seasonally strong fourth quarter of
2015. Based on our year-to-date results, we are confirming the
financial guidance we provided earlier this year as part of our
2015 annual results announcement, which we have supplied again
later in the press release."
Financial Highlights
Quarterly revenue of $848,613; up 106% year-over-year
Quarterly adjusted EBITDA* (a non-GAAP measure) of $220,510; up
97% year-over-year
$1.49 million in cash and cash equivalents as of March 31, 2016,
unchanged from December 31, 2015.
In other Gaming operations, financial reportings and recent
developments: Zynga Inc. (NASDAQ:
ZNGA), a leading social game developer, after the markets
closed yesterday, announced financial results for the first quarter
ended March 31, 2016. Its been a productive two months leading
Zynga as CEO. Im seeing our momentum improve as our teams continue
their commitment to growing our established live franchises and
demonstrate more cost and operating discipline. As a result, Q1
bookings were above the high end of our guidance range at $182
million, and Adjusted EBITDA was above our range at $11 million.
Our mobile momentum continued with mobile now representing 76% of
our total bookings, up from 73% from last quarter, and total mobile
audience up 7% from last quarter, said Frank Gibeau, CEO of Zynga.
Zynga has all the ingredients it needs for a successful turnaround.
My priority is to bring our founding social gaming vision to life
in our games and lead our teams to deliver high quality experiences
for players on time and profitably. Read the full ZNGA financial
report at http://finance.yahoo.com/news/zynga-announces-first-quarter-2016-200300233.html
Electronic Arts Inc. (NASDAQ:
EA) will release its financial results for the fourth quarter
fiscal year 2016 after the close of market on Tuesday, May 10,
2016. In conjunction with this release, EA will host a conference
call to review its financial results for the fourth quarter,
discuss its outlook for the future and may disclose other material
developments affecting its business and/or financial performance.
Listeners may access the conference call live via a dial-in number
or audio webcast. Tuesday, May 10, 2016
2:00 pm Pacific Time (5:00 pm Eastern Time) - Dial-in
numbers:
Domestic: (844) 215-4106; International: (918) 534-8313 -
Passcode: EA
Glu Mobile Inc. (NASDAQ:
GLUU), a leading global developer and publisher of free-to-play
games for smartphone and tablet devices, this week announced
financial results for its first quarter ended March 31, 2016. Our
first quarter guidance outperformance was primarily due to the
strong Kendall and Kylie launch as well as the ongoing success of
Kim Kardashian: Hollywood and Cooking Dash, stated Niccolo de Masi,
Chairman and Chief Executive Officer of Glu. We are delighted with
the traction of our Tap Sports Baseball 2016 title which is
currently the top grossing baseball game on the U.S. App Store for
iPhone and has positioned us to grow revenues from this franchise
for the third year in a row. Read the full GLUU report at http://finance.yahoo.com/news/glu-reports-first-quarter-2016-201000715.html
Call of Duty is returning to its roots for a classic, epic
battle of two armies unlike anything seen before in the
record-setting series. Call of Duty: Infinite Warfare will launch
worldwide Friday, November 4, immersing players in a war story
that, for the first time in franchise history, extends beyond the
reaches of Earth into the vast expanse of our solar system.
Published by Activision Publishing, Inc., a wholly owned subsidiary
of Activision Blizzard (NASDAQ:
ATVI), and led by Infinity Ward, Call of Duty: Infinite Warfare
will also be available as the Infinite Warfare Legacy Edition,
which includes the return of the full campaign and 10 multiplayer
maps from the famed Call of Duty 4: Modern Warfare, released in
high-definition brilliance as Call of Duty: Modern Warfare
Remastered*.
Still well over a month away from E3 2016, but Microsoft
Corporation (NASDAQ: MSFT) decided to announce its plans for the
show even earlier this year. Neither Sony nor Nintendo have
confirmed anything for E3 yet, but on Tuesday, Microsoft revealed
that its Xbox E3 2016 Briefing would once again take place on
Monday, June 13th at 9:30 a.m. PDT at the Galen Center in downtown
Los Angeles. As per usual, only members of the press and those in
the gaming industry received invites, but Microsoft will host a
live stream of the briefing on Xbox.com, the Xbox Twitch Channel,
via the Xbox Live Events Player or even at your local Microsoft
store. Spike TV will also broadcast the briefing at 9:30 a.m. PDT /
12:30 p.m. EDT. If you happen to be in or around LA during E3,
Microsoft is giving away 500 tickets to fans for exclusive access
to the Xbox FanFest once again this year. You can check out all the
rules for the contest at the Xbox E3 site. SOURCE: BRG.com
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