Sky-mobi Limited (MOBI) Swings to Q2 Profit

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Sky-mobi Limited Announces Unaudited Financial Results for the Second Quarter 2014

August 18, 2014 6:21 AM EDT

HANGZHOU, China, Aug. 18, 2014 (GLOBE NEWSWIRE) -- Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq: MOBI), a leading mobile application platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2014.

Second Quarter 2014 Highlights

Total revenues increased 32.4% quarter-over-quarter to RMB170.2 million (US$27.4 million) from RMB128.6 million.   Revenues from smartphone business increased 51.3% quarter-over-quarter to RMB132.5 million (US$21.4 million), or 77.8% of total revenues, from RMB87.5 million, or 68.1% of total revenues.   Net profit increased 1268.7% quarter-over-quarter to RMB63.4 million (US$10.4 million) from RMB4.6 million.  ... More