Gameloft has announced that through the first half of 2011, they have hit €76.8 Million (about 110 million USD) in sales, which is up 15 percent from last year. Smartphone and tablet sales are up 55 percent, and account for 30 percent of the total. The second quarter alone saw €37.4 million (about 53 million USD), which is up 11 percent, even with the weak US dollar -- using a constant rate of exchange those sales grew by 16 percent. These second quarter sales break down to 33 percent from Europe, 28 percent from North America, and 39 percent for the rest of the world.
Gameloft expects to launch 20 new smartphone and tablet games during the second half of this year, so their outlook for sustained growth of this nature is good. While they may not have the best distribution model for the Android platform, you have to admit their games are very well done. We're looking forward to what's coming from Gameloft, and I'm sure more than a few of you guys are, too. Hit the break for the full announcement.
First Half Sales of €76.8 Million, Up 15%
Smartphone and Tablet Sales Up 55%
Paris, August 1, 2011 - Gameloft achieved consolidated sales of €76.8 million in the first half of 2011, up by 15% from the previous year. On a constant exchange rate basis, growth was 17%. Europe represented 33% of the company’s quarterly sales, North America 28% and the rest of the world 39%.
Sales reached €37.4m in the second quarter of 2011, up by 11% year on year. The weakness of the dollar weighed on second-quarter sales as growth was 16% on a constant exchange rate basis.
The company’s growth accelerated significantly during the first half of 2011. Growth on a constant exchange rate basis reached 17% compared to 10% during the first half of 2010. This growth was driven by sales in emerging countries and by the massive success of Gameloft games on smartphones and tablets around the world. Gameloft’s first-half sales on smartphones and tablets grew by 55% year on year and represented 30% of total sales.
The dynamism of the smartphone and tablet market should continue sustaining Gameloft's growth in the upcoming quarters. Additionally, the release of new gaming platforms, such as social networks, smart TVs and next-generation set-top boxes provides the company with strong growth opportunities.
Therefore, Gameloft is expecting continued revenue and profitability growth in 2011. The expected launch of approximately twenty smartphone and tablet games during the second half of the year should allow solid sequential growth in the third and fourth quarters of 2011. In the long term, the company appears to be in an ideal position to benefit from the rapid emergence of the digital distribution of video games on mobile phones, tablets, social networks, TVs and consoles.
The Group's consolidated first-half results will be published on August 31, 2011, after the market closes.