Gameloft Loses €16.6M, Has Closed 7 Studios in 2015

10th September, 0 replies

Gameloft's downward spiral continues. The company has confirmed that it has closed seven studios since the start of 2015.

The earnings report doesn't look much better either. The mobile publisher recorded a loss of €16.6 million for the first six months of 2015. That is an increase from a loss of €0.1 million during the same period a year ago and this is despite a 15 percent increase in revenue to €127.4 million.

"This first-half loss is due to the seasonality of our business as well as to the disappointing level of revenues achieved by the three games developed by Gameloft specifically for the Japanese and Chinese markets," said Gameloft CEO Michel Guillemot.

"In order to return to profitability in the second half of 2015, and to past profitability levels in the medium term, Gameloft has initiated an ambitious cost reduction program since the start of the year and in the process closed seven development studios that had become unprofitable. Gameloft has a massive audience, strong brands, solid recurring revenues, growth opportunities ahead and a healthy financial situation. We therefore continue to look to the future with confidence."

EMEA accounted for 30 percent of the sales for the first half of 2015. North America accounted for 27 percent, Asia-Pacific accounted for 28 percent, and Latin America accounted for 15 percent.

Despite the increased loss Gameloft remains the number game publisher in the world when you look at the total number of downloads for iOS and Android devices, an accomplishment that is no doubt aided by the recent release of 10 new titles.

Source:

goo.gl/…

Around the Network

0 COMMENTS
Reply

Related Brainwaves

Trending Articles