Mobile Gaming Sector Evolves Into One of the Biggest Global Entertainment Industries Estimated at $25 Billion - Company Reports Over 190% Increase in Revenues Year-Over-Year

12 Nov, 2015, 08:30 ET from FN Media Group LLC

CORAL SPRINGS, Florida, November 12, 2015 /PRNewswire/ --

The video games & mobile gaming sector continues to be an area of fast growth as games are considered low-cost entertainment which even in recessions people will continue to spend money on this sector.  Global mobile game revenues are expected to eclipse console game revenues in 2015 and could generate $30.3 billion worldwide.  Recent financial reporting released by top gaming companies include Tapinator, Inc. (OTC: TAPM), Zynga Inc. (NASDAQ: ZNGA), Glu Mobile Inc. (NASDAQ: GLUU), Take-Two Interactive Software, Inc. (NASDAQ: TTWO) & King Digital Entertainment plc (NASDAQ: KING)

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 period ended September 30, 2015.  The complete report may be found at http://www.otcmarkets.com/stock/TAPM/filings.  -  "Tapinator continued to show significant business expansion in the third quarter of 2015," stated Tapinator CEO, Ilya Nikolayev.  "Our quarterly revenues grew 191% year-over-year and 18% quarter-over-quarter, representing our sixth consecutive quarter of at least double-digit sequential revenue growth.   Our revenue expansion can be attributed to both the continued broadening of our rapid-launch games portfolio, as well as our continued investment into a small number of full-featured titles that we believe have significant franchise potential.  In addition to our very strong revenue growth, Tapinator is also pleased to announce adjusted EBITDA of $73,914 in the third quarter of 2015, an increase of 65% year-over-year and our sixth consecutive quarter of positive adjusted EBITDA.

Read the full TAPM financial report press release at http://www.financialnewsmedia.com/profiles/tapm.html

We are very proud of our accomplishments in Q3 2015, in terms of our financial performance, product traction and user growth. Tapinator is particularly pleased to deliver these results even as we continue to make substantial investments in new game development, marketing and data/analytics infrastructure."

Tapinator Financial Highlights 

  Quarterly revenue of $728,128; up 191% year-over-year 

  Quarterly adjusted EBITDA (a non-GAAP measure) of $73,914; up 65% year-over-year 

 $1.79 million in cash and cash equivalents as of September 30, 2015 

Other gaming developers & publishers releasing financial reports:  Zynga Inc. (NASDAQ: ZNGA), a leading social game developer, recently announced financial results for the third quarter ended September 30, 2015.  Financial Highlights - Bookings of $176 million; above the high end of the guidance range, flat year-over-year and up 1% sequentially. - Mobile bookings are $121 million or 69% of overall bookings, up 26% year-over-year and up 6% sequentially. - Adjusted EBITDA of $12 million; above the high end of the guidance range. - Advertising and other bookings up 39% year-over-year and 17% sequentially. - Non-GAAP operating expenses decreased to $114 million, a 9% sequential decrease. - $1.1 billion in cash, cash equivalents and marketable securities. - Announcing $200 million share repurchase program.

Glu Mobile Inc. (NASDAQ: GLUU), a leading global developer and publisher of free-to-play games for smartphone and tablet devices, recently announced financial results for its third quarter ended September 30, 2015. Third Quarter 2015 Financial Highlights: Q3 non-GAAP revenue of $64.4 million and Q3 GAAP revenue of $63.3 million - Q3 Adjusted EBITDA of $8.5 million - Partnership struck to bring Tencent's chart-topping shooter game, WeFire, to North and South America, EMEA, Australia and New Zealand in 2016 - Over 1 billion total social following of celebrities with whom the company has exclusive partnerships; titles featuring these celebrities expected live by end of 2017 - Hired Electronic Arts and Kabam veteran, Nick Earl, as the President of Global Studios.

Take-Two Interactive Software, Inc. (NASDAQ: TTWO) recently reported stronger-than-expected financial results for fiscal second quarter 2016, ended September 30, 2015. In addition, the Company increased its financial outlook for the fiscal year ending March 31, 2016, and provided its initial financial outlook for the fiscal third quarter 2016, ending December 31, 2015. Highlights: Non-GAAP Net Revenue Grew 169% to $364.9 Million - Non-GAAP Net Income Increased to $0.30 Per Diluted Share - Company Repurchased Nearly 1 Million Shares for $26.6 Million - Raises Financial Outlook for Fiscal 2016

King Digital Entertainment plc (NASDAQ: KING), a leading interactive entertainment company for the mobile world, on Nov. 4th, reported financial results for the third quarter ended September 30, 2015.  Highlights include: Reported total gross bookings of $502 million, above high end of previously provided guidance range - Generates adjusted EBITDA of $180 million for third quarter 2015 representing 38% adjusted EBITDA margin - - Operating activities provide net cash of $150 million; ends quarter with $920 million of cash and cash equivalents - - Two King games were top 5 grossing games on both the Apple App Store and Google Play Store in the U.S. for the third consecutive quarter - - Continued to diversify and expand mobile game portfolio with launch of Blossom Blast Saga, King's first linker game for mobile - - Entered into agreement to be acquired by Activision Blizzard for $18.00 in cash per share, representing $5.9 billion total equity value and 27% premium over three month volume weighted average price per share. Activision Blizzard, Inc. (NASDAQ: ATVI) announced this week that in relation to the Company's proposed acquisition of King Digital Entertainment, previously announced on November 2, 2015, Activision Blizzard, Inc. and ABS Partners C.V. have received irrevocable undertakings from a majority in number of the holders of restricted shares (the "Restricted Share Irrevocable Undertakings"). The Restricted Share Irrevocable Undertakings are given by such persons in their capacity as holders of restricted shares and provide that they will vote in favour of the resolutions to be considered at the relevant class meetings relating to approval of the scheme of arrangement in respect of their entire beneficial holdings of restricted shares (as applicable) amounting to, in aggregate, 513,646 restricted shares which represents approximately 77.31% of the issued restricted share capital on November 10, 2015 (being the date of this announcement).

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