IDreamSky Technology Q3 Net Loss Widens - Quick Facts

(RTTNews) - iDreamSky Technology Ltd. (DSKY) Tuesday reported third-quarter net loss which widened, as the mobile games distributor registered a $18.9 million accretion to preferred shareholders which masked a surge in revenues propelled by new game launches.

Net loss, attributable to ordinary shareholders, totaled RMB 79.1 million, or $12.89 million, wider than loss of RMB 53.72 million a year ago. Per-share loss narrowed to RMB 0.66, or $0.11, from RMB 1.26 a year earlier.

Loss per ADS was RMB 2.64, or $0.44, compared with loss of RMB 5.04 a year ago. Weighted average number of shares increased to 120.47 million, from 42.33 million in the prior-year period.

On an adjusted basis, the company posted a profit of RMB 56.79 million, or $9.25 million.

Total revenues advanced to RMB 294.46 million, or $47.97 million, from RMB 78.26 million a year earlier.

During the third quarter, downloads and activation of the company's games increased to 116.9 million, from 73.5 million a year earlier. Monthly active user base grew to 122 million, from 81.3 million a year ago.

Average revenue per user increased to RMB 13.2, or $2.2, from RMB 5.7 last year.

For the fourth quarter, the company expects revenue of RMB 390 million ($63.2 million) to RMB 410 million ($66.5 million).