Aug. 11, 2009 (China Knowledge) - KongZhong Corporation<KONG>, a leading wireless value-added services and media company based in Beijing, on Monday announced that net profit the second quarter of this year increased 41% from a quarter earlier to US$355 million, with earnings per share hitting US$0.09.
The Nasdaq-listed recorded US$32.3 million in total revenues in Q2 2009, representing a quarter-on-quarter growth of 9% and a year-on-year growth of 37%, which is higher than the firm's previous estimates of between US$30.5 million and US$31.5 million.
The firm's total gross margin during the period was 51%, compared with 49% recorded in the first quarter.
We are pleased about the firm's business performance in Q2, said Leilei Wang, KongZhong's chairman and CEO, adding that the firm consolidated its leading status in the mobile game market in China during the period and will continue to enhance its R&D strengths in game development.
KongZhong will conduct a long-term investment to Kong.net, aiming to build it as a 3G mobile portal combined with social networking services, according to Wang.
The firm predicted that its total revenues would be between US$34 million and US$35 million in the third quarter of this year.