Mobage virtual currency powers DeNA on to record $609 million revenue

DeNA (TYO:2432) has announced record-high revenue of $609 million in its first financial quarter of 2012, with a clamp down on the 'complete gacha' method failing to hit the company hard.

Said revenue was up 37 percent year on year and also came in above the $593 million estimate DeNA went public with back in June.

Such highs are despite a self-imposed ban on complete gacha, which allowed games to charge players small sums for virtual items that could be converted into a rare item when combined.

The company claims an overall rise in the consumption of Moba-coins – the firm's virtual currency system for Mobage – more than balanced out any revenue slip caused by the complete gacha ban, bringing in at a record $689 million in Japan alone.

Indeed, Moba-coin is currently bringing in $230 million a month in revenue in DeNA's home territory, with the firm's quarterly operating profit jumping 22 percent to $235 million as a result.

"Our first financial quarter of the year marked our highest global revenue to date, as well as proof positive that we are beginning to see a thriving business in the west," said DeNA president and CEO Isao Moriyasu.

"We are squarely focused on our goal of building the world’s top social games platform.

"We will achieve this by continuing to refine our technology, building the strongest game portfolio through internal studios as well as third parties and great IP partners, and serving our customers through our platform worldwide."

On that note, DeNA has been very keen to cast light on the success of card-battler Rage of Bahamut, which contributed a "significant increase to virtual currency consumption across the network."

Rage of Bahamut managed a 17 week strong run at the top of Google Play's top-grossing chart in the US, which Mobage as a whole now boasts 50 games across Android and iOS.

Looking ahead, DeNA is pinning much hope on forthcoming games based on major IP, including Marvel and Transformers.
The company forecasts quarter-on-quarter increases in revenue of $24 million and operating profit of $14 million in the quarter ending 30 September.

[source: DeNA]