Earnings: Gameloft Q1 Revenue Rises 54 Percent

Gameloft has reported its first quarter earnings for the three months ending March 31st. The mobile game company generated revenue of 22.7 million euros (US$30.9 million), a 54 percent increase year-on-year. As a result Gameloft has finetuned its annual sales forecast to 95-100 million euros (US$130-136 million) — it had previously estimated between 90-100 million euros. On a comparable consolidation and exchange rate basis, growth would have reached 66 percent. Europe accounted for 44 percent of Gamelofts sales in the first quarter, and North America accounted for 39 percent.

Gameloft said the sharp increase in sales is due to both its back catalogue (supported by the fact that the company released 45 games in 2006 compared to just over 20 in 2005) and the immediate success of games launched in the first quarter of 2007 (Desperate Housewives, Lost, sports licenses and so on). (via e-mail release)