Japan’s ever powerful gaming and e-commerce platform DeNA (TYO:2432) has just posted its Q1 financials (actually Q2 2013 in human time) and it’s big once again. It’s JPY 52.2 billion big ($532 million). That revenue number is up 10 percent from last year’s JPY 47.6 billion and indicates that DeNA is on course to top $2 billion in revenue for the whole year once again. DeNA’s operating profit for Q1 was JPY 17 billion ($173 million).
No doubt contributing considerably to DeNA’s numbers is its social gaming platform Mobage and its MobaCoin virtual currency. In total, in Japan, MobaCoin spending hit a whopping $559 million. Most of this online spending occurs on Mobage. This quarter’s numbers, though, are a drop from last year, which DeNA claims is due in part to the lack of first- and second-party hits during the quarter (second-party games are those developed/operated by DeNA but using external IP; or they might be jointly run titles). This drop will be null later in the year, DeNA claims, as it is launching 60 titles in Japan and 20 new titles abroad by the end of the fiscal year (both self-developed and second-party). Outside of Japan, MobaCoin also pulled in $80 million. (Updated: Corrected previous reference to “third-party” titles to change to “second-party”; added clarification of its meaning).
Going forward, DeNA is projecting to hit another $520 million in revenue in the next quarter and is looking at an operating profit of $170 million. There are no user-base figures for its social messaging app Comm, which launched in October last year to challenge the social gaming prowess of apps like Line.
(Editing by Steven Millward)
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