Quarterly online gaming revenue Mail.Ru Group grew by almost 30%. The company earned $80.8 million
Russian IT Corporation Mail.Ru The Group reported for the first quarter of this year. Revenue from the company’s MMO games increased by 28.5% compared to last year and amounted to ₽5.12 billion ($80.8 million).
59% of this amount is online Mail games.Ru earned on the international market.
The company explained the financial growth by the strong performance of the flagship titles Warface and War Robots.
In Mail.Ru also noted the high audience growth rates of the mobile strategy Hustle Castle. The game was released at the end of October 2017, and by the end of the first quarter of 2018, its audience exceeded 7.7 million people.
In just the first three months of this year Mail.Ru The Group earned ₽16.5 billion ($261 million). The company’s revenue increased by 27.8% compared to the same period last year.
At the same time, the company’s pre-tax profit (EBITDA) decreased by 20% to ₽3.9 billion ($61.8 million).
Head of the Board of Directors Mail.Ru Group Dmitry Grishin and the company’s CEO Boris Dobrodeev explained the decline in profits by investing in new projects that did not have time to reach self-sufficiency by the end of the first quarter.
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