500.com Ltd. (WBAI) Tops Q3 EPS by 3c

500.com Ltd. (NYSE: WBAI) reported Q3 EPS of $0.36, $0.03 better than the analyst estimate of $0.33. Revenue for the quarter came in at $30.6 million versus the consensus estimate of $29.7 million.

"I am pleased to report another solid quarter of growth as our business continues to gain momentum," commented Mr. Man San Law, Founder, Chairman and Chief Executive Officer of 500.com. "Total purchase amount reached a new record high of US$365.7 million, a 205.1% increase from the same period last year. We are seeing a very real and rapid shift towards mobile as mobile traffic increase at a faster pace than PC traffic. While active users of our mobile app increased only slightly sequentially, they now account for almost half of the total purchase amount, a 74.8% increase from last quarter. With traction for our mobile products increasing rapidly, we will continue to invest in their redesign, service development and marketing as we work to create a great user experience. We are confident that our mobile strategy and its enhanced services will strengthen our position as China's leading online sports lottery service and generate sustainable, long-term revenue."

Third Quarter 2014 Operational Results

Active Users

Active users increased by 38.3% to approximately 3,500,000 during the third quarter of 2014 from 2,530,000 in the second quarter of 2014.

Active New Users2

The Company had a total of 3,233,000 active new users during the quarter, an increase of 49.7% from 2,160,000 active new users during the second quarter of 2014. Active new users accounted for RMB1,371.1 million (US$223.4 million) of the Company's total purchase amount during the third quarter of 2014, an increase of 11.6% from RMB1,228.3 million during the second quarter of 2014.

Active Users - Platforms

z PC

The Company had a total of 1,014,000 active PC users during the quarter, a decrease of 5.0% from 1,067,000 active PC users during the second quarter of 2014. Active PC users accounted for RMB 1,173.7 million(US$191.2 million), or 52.3% of the Company's total purchase amount during the third quarter of 2014, a decrease of 14.6% from RMB1,374.9 million during the second quarter of 2014.

z Mobile App

The Company had a total of 736,000 active mobile app users during the quarter, an increase of 3.7% from 710,000 active mobile app users during the second quarter of 2014. Active mobile app users accounted for RMB862.4 million (US$140.5 million), or 38.4% of the Company's total purchase amount during the third quarter of 2014, an increase of 74.8% from RMB493.4 million during the second quarter of 2014.

z Mobile Website

The Company had a total of 2,485,000 active mobile website users during the quarter, an increase of 68.5% from 1,475,000 active mobile website users during the second quarter of 2014. Active mobile website users accounted for RMB208.5 million (US$34.0 million), or 9.3% of the Company's total purchase amount during the third quarter of 2014, a decrease of 7.3% from RMB224.9 million during the second quarter of 2014.

Active Users - Direct and Third Party Channels

z Direct Active Users

The Company had a total of 1,091,000 direct active users during the quarter, an increase of 41.9% from 769,000 direct active users during the second quarter of 2014. Direct active users accounted for RMB2,034.6 million (US$331.5 million) of the Company's total purchase amount during the third quarter of 2014, an increase of 11.1% from RMB1,831.1 million during the second quarter of 2014.

z Third Party Channels

The Company had a total of 2,409,000 third party channel active users during the quarter, an increase of 36.8% from 1,761,000 third party channel active users during the second quarter of 2014. Third party channel active users accounted for RMB210.0 million (US$34.2 million) of the Company's total purchase amount during the third quarter of 2014, a decrease of 19.9% from RMB262.1 million during the second quarter of 2014.

For earnings history and earnings-related data on 500.com Ltd. (WBAI) click here.

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