G5 profit fell by 9%

Swedish-Russian publisher G5 Entertainment has released its financial figures for the third quarter and for the period from January to September this year.

The company’s consolidated revenue for 9 months amounted to $11.1 million, which is 18% more than in the same period last year. Operating profit – $1.3 million, indicating a decline of 48%.

The important news for G5 was that in the third quarter, revenue from its free-to-play games for the first time exceeded the revenue that the company received under the freemium model. 

The third quarter of this year brought the company $3.4 million – 9% less than last year. Operating losses amounted to $760,000. The reason for this was an increase in marketing and operating costs due to the launch of F2P games, as well as a one-time write-off of $ 380,000 due to the departure from games with paid access.

The total number of downloads of G5 mobile games in the third quarter reached 125 million (at the beginning of 2013, this figure was 100 million). The volume of available funds by September 30 amounted to $5.3 million.

Source: www.pocketgamer.biz