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KongZhong Reports 12th Consecutive Quarter Of Revenue Growth
August 17, 2005 |
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KongZhong (KONG) has announced its unaudited second quarter 2005 financial results. Total revenue in the second quarter of 2005 grew 53% year-over-year and 8% sequentially to a new record $18.36 million.
Since inception, the Company has grown its revenues every quarter for 12 consecutive quarters.
2.5G revenue grew 41% year-over-year, but declined 1% sequentially to $13.52 million. 2G revenue grew 105% year-over-year and 48% sequentially to $4.82 million.
Net income for the quarter also reached a new record of $6.60 million, a 25% increase from second quarter 2004, and a 12% increase from first quarter 2005. Diluted earnings per ADS were $0.19, up from $0.17 in first quarter 2005.
Mobile game revenue from 2.5G services reached $1.79 million in the second quarter, which was 10% higher than the previous quarter. Revenue from Java games during the quarter was $455,000, up 27% from $358,000 in the first quarter.
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