Global Mobile Gaming Industry Growing at a Rapid Pace - Forecasted to Generate $37 Billion in Revenues in 2016; Company Reports 106% Increase in Revenues

05 May, 2016, 08:30 ET from FN Media Group, LLC

CORAL SPRINGS, Florida, May 5, 2016 /PRNewswire/ --

As consumers continue to gravitate towards on-the-go gaming options, mobile gaming continues to make its way towards eventually passing consoles and PCs in popularity, presenting rapid growth potentials for Gaming companies.  Gaming developers and Publishers with current developments of note in the markets today are Tapinator, Inc. (OTC: TAPM), Zynga Inc. (NASDAQ: ZNGA), Electronic Arts Inc. (NASDAQ: EA), Glu Mobile Inc. (NASDAQ: GLUU), Activision Blizzard (NASDAQ: ATVI).

Tapinator, Inc. (OTC: TAPM), an emerging growth company within the mobile gaming industry, today announced financial results and the filing of its quarterly report for the three months ended March 31, 2016. "Tapinator showed rapid business expansion in the first quarter of 2016," stated Tapinator CEO, Ilya Nikolayev.  Our first quarter revenues grew 106% year-over-year to approximately $849,000, representing our seventh consecutive quarter of at least double-digit year-over-year revenue growth.   Our revenue expansion can be primarily attributed to the continued broadening of our Rapid-Launch Games portfolio, as well as to a select number of Full-Featured Games that we believe have significant franchise potential.  In addition to our strong revenue growth, Tapinator is also pleased to announce adjusted EBITDA (a non-GAAP measure) of approximately $221,000 in the first quarter of 2016, an increase of 97% year-over-year, and our eighth consecutive quarter of positive adjusted EBITDA. 

Read the full Tapinator (TAPM) Financial Report at  http://www.financialnewsmedia.com/profiles/tapm.html

We are very pleased with our first quarter results as we saw significant acceleration of both year-over-year player and revenue growth rates as compared to the seasonally strong fourth quarter of 2015.  Based on our year-to-date results, we are confirming the financial guidance we provided earlier this year as part of our 2015 annual results announcement, which we have supplied again later in the press release."  

Financial Highlights

•    Quarterly revenue of $848,613; up 106% year-over-year

•    Quarterly adjusted EBITDA* (a non-GAAP measure) of $220,510; up 97% year-over-year

•    $1.49 million in cash and cash equivalents as of March 31, 2016, unchanged from December 31, 2015.

In other Gaming operations, financial reportings and recent developments:  Zynga Inc. (NASDAQ: ZNGA), a leading social game developer, after the markets closed yesterday, announced financial results for the first quarter ended March 31, 2016. "It's been a productive two months leading Zynga as CEO. I'm seeing our momentum improve as our teams continue their commitment to growing our established live franchises and demonstrate more cost and operating discipline. As a result, Q1 bookings were above the high end of our guidance range at $182 million, and Adjusted EBITDA was above our range at $11 million. Our mobile momentum continued with mobile now representing 76% of our total bookings, up from 73% from last quarter, and total mobile audience up 7% from last quarter," said Frank Gibeau, CEO of Zynga. "Zynga has all the ingredients it needs for a successful turnaround. My priority is to bring our founding social gaming vision to life in our games and lead our teams to deliver high quality experiences for players on time and profitably."  Read the full ZNGA financial report at http://finance.yahoo.com/news/zynga-announces-first-quarter-2016-200300233.html

Electronic Arts Inc. (NASDAQ: EA) will release its financial results for the fourth quarter fiscal year 2016 after the close of market on Tuesday, May 10, 2016. In conjunction with this release, EA will host a conference call to review its financial results for the fourth quarter, discuss its outlook for the future and may disclose other material developments affecting its business and/or financial performance. Listeners may access the conference call live via a dial-in number or audio webcast.  Tuesday, May 10, 2016

2:00 pm Pacific Time (5:00 pm Eastern Time) - Dial-in numbers:

Domestic: (844) 215-4106; International: (918) 534-8313 - Passcode: EA

Glu Mobile Inc. (NASDAQ: GLUU), a leading global developer and publisher of free-to-play games for smartphone and tablet devices, this week announced financial results for its first quarter ended March 31, 2016. "Our first quarter guidance outperformance was primarily due to the strong Kendall and Kylie launch as well as the ongoing success of Kim Kardashian: Hollywood and Cooking Dash," stated Niccolo de Masi, Chairman and Chief Executive Officer of Glu. "We are delighted with the traction of our Tap Sports Baseball 2016 title which is currently the top grossing baseball game on the U.S. App Store for iPhone and has positioned us to grow revenues from this franchise for the third year in a row."  Read the full GLUU report at http://finance.yahoo.com/news/glu-reports-first-quarter-2016-201000715.html

Call of Duty® is returning to its roots for a classic, epic battle of two armies unlike anything seen before in the record-setting series. Call of Duty®: Infinite Warfare will launch worldwide Friday, November 4, immersing players in a war story that, for the first time in franchise history, extends beyond the reaches of Earth into the vast expanse of our solar system. Published by Activision Publishing, Inc., a wholly owned subsidiary of Activision Blizzard (NASDAQ: ATVI), and led by Infinity Ward, Call of Duty: Infinite Warfare will also be available as the Infinite Warfare Legacy Edition, which includes the return of the full campaign and 10 multiplayer maps from the famed Call of Duty® 4: Modern Warfare®, released in high-definition brilliance as Call of Duty®: Modern Warfare® Remastered*.

Still well over a month away from E3 2016, but Microsoft Corporation (NASDAQ: MSFT) decided to announce its plans for the show even earlier this year. Neither Sony nor Nintendo have confirmed anything for E3 yet, but on Tuesday, Microsoft revealed that its Xbox E3 2016 Briefing would once again take place on Monday, June 13th at 9:30 a.m. PDT at the Galen Center in downtown Los Angeles.  As per usual, only members of the press and those in the gaming industry received invites, but Microsoft will host a live stream of the briefing on Xbox.com, the Xbox Twitch Channel, via the Xbox Live Events Player or even at your local Microsoft store. Spike TV will also broadcast the briefing at 9:30 a.m. PDT / 12:30 p.m. EDT.  If you happen to be in or around LA during E3, Microsoft is giving away 500 tickets to fans for exclusive access to the Xbox FanFest once again this year. You can check out all the rules for the contest at the Xbox E3 site. SOURCE: BRG.com

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