NQ Mobile net revenues up 42% YoY

NQ Mobile Inc. (NYSE: NQ) said net revenues in the fourth quarter of 2015 increased 42.1 percent year-over-year to USD127.5 million from USD89.7 million in the same period in 2014.

Mobile value added service revenues increased 110.5 percent year-over-year to USD51.4 million from USD24.4 million in the same period in 2014. The increase in mobile value added service revenue was primarily attributable to the growth in mobile gaming revenues and live mobile social video platform revenues.

The increase in mobile gaming revenues was primarily the result of the continuing expansion of FL Mobile´s business in both domestic and overseas markets, which grew over 129.7 percent compared with the same period in 2014. The significant increase in live mobile social video platform revenues was driven by the rapid growth of Showself´s business in our live video platforms, which was up 557.2 percent compared to the same period in 2014.

The strong growth in NQ Mobile´s live mobile social video platform and mobile gaming revenues was offset by a year-over-year decrease in consumer mobile security revenues which was mainly due to the fact that the company has been moving its focus away from premium mobile security services and focusing more on mobile applications and services.

Advertising revenues increased 7.6 percent year-over-year to USD22.0 million from USD20.4 million in the same period in 2014. The increase was mainly due to the continued expansion of our advertising networks and the monetization through advertising and successful third party application referrals.

Enterprise mobility revenues increased 18.5 percent year-over-year to USD52.1 million from USD44.0 million in the same period in 2014. This increase is mainly due to continuing strong growth of hardware sales as well as an increase in software sales.

Other revenues increased 131.2 percent year-over-year to USD2.0 million from USD0.9 million in the same period in 2014. Other revenues are generated primarily by providing technical contract services to third parties and fluctuate as such business is driven by individual projects.

NQ Mobile provides mobile Internet services. NQ Mobile´s portfolio of offerings includes mobile game publishing platforms, mobile advertising platforms, mobile entertainment applications and platforms, mobile security and productivity applications and other mobile applications.