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.”
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.