Infospace has released their Q1 financial reports, which shows a drop in revenue.
As reported by MobileIndustry.biz, their revenue was $86.6 million, a 4% drop from 2006 results. Mobile revenue was down 6% to $41.6 million, or $2.5 million less than Q1 2006. The company did, however, note the recent extension of their relationship with Google and their six new distribution partners.
“Although mobile media revenues declined as expected, revenues from our core online and mobile business showed strong sequential increases and generated strong cash flow,” said Jim Voelker, Infospace CEO. “The recent announcement of several key partnerships reflects our strength and give us good reason to be optimisitic for the year ahead.”
Infospace’s fourth quarter financial report has show a 20% drop in profit, but an overall rise in mobile revenue, reports MobileIndustry.biz
Profits for the quarter were EUR 23 million, down from EUR 30 million in the previous year’s quarter, while overall revenues reached EUR 68.6 million–a EUR 2.2 million increase from last year.
Mobile revenues rose 12% to EUR 36.5 million and gross profits were a total EUR 14.4 million. Revenues for the entire year increased EUR 21 million to 142 million, and gross profits totaled EUR 56.2 million.
The company made a net loss of EUR 9.75 million. Although receiving a EUR 25 million tax benefit in 2006, the company also paid EUR 12.9 million in stock-based compensation costs and EUR 47.8 million in restructuring costs.
Twistbox has announced the acquisition of Infospace’s US mobile game studio. Known formerly as Atlas Mobile, the studio was one of the pioneers of the Play for Prizes business, including tournaments and loyalty campaigns.
The company will introduce three new titles immediately, those being: SuperSlyder for Prizes, Take Yer Meds for Prizes, and Card Player Poker for Prizes. There are also three titles to be announced in the second quarter of this year. Continue reading ‘Infospace sells studio to Twistbox’
Greetings from the North Pole (i.e. Canada)! While most of the QB staff is with family or playing with our new, hi-tech toys, we love mobile too much to not do some posting this holiday week. Here’s what’s going on in the mobile gaming industry during the waning hours of 2006.
The Mobile Gaming Blog is reporting that Stephen Davis has left InfoSpace, citing the company’s departure from consumer mobile content as the main reason. Of course, news like this can only help fuel the rumours that InfoSpace will be bought.
Continue reading ‘Mobile X-Mas Updates’
Arjan is always a good source of industry rumors. I’m not sure who his sources are but he has more spies in the industry than the KGB had in the United States.
Continue reading ‘Rumor: Infospace Halting Mobile Games Development’
The Mobile Games and Gaming blog has pointed out some good news that we missed. The details of Infospace shutting down Elkware studios can be found on his site.
Continue reading ‘Elkware Studios Shut Down Details’
Yesterday, we reported the news from Moconews that Infospace was going to lose a great deal of business. Today we find out that Infospace’s shares have dropped 22 percent.
Continue reading ‘Infospace’s Shares Drop’
This is thanks to Moconews: One of Infospace’s big carrier partners (hasn’t named it) plans to develop direct licensing relationships with the major record labels beginning in early 2007, and will affect its business in a big way.
Continue reading ‘InfoSpace Loses Carrier Partner’
Not much going on in the mobile games industry today. InfoSpace has appointed Geoff Stevens as VP of Product Management, Mobile Media. He will oversee the development of InfoSpace’s mobile entertainment product lines, and will be based in LA. Stevens joins from Yahoo where he was most recently the GM of Local and Mobile, looking after local sponsored search and mobile monetization product lines.
InfoSpace, Inc. (NASDAQ: INSP), a leader in mobile media, today announced that it has signed an agreement to create mobile versions of several top Activision games, including the two most recent titles from the legendary action sports superstar Tony Hawk.
Continue reading ‘InfoSpace and Activision Sign Deal’
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