Retail India News: OnMobile Global Reports Q3 FY24 Results; Gaming Biz Flourishes
Retail India News: OnMobile Global Reports Q3 FY24 Results; Gaming Biz Flourishes

OnMobile Global Limited, the leading player in mobile gaming and entertainment, has released its financial results for the third quarter of FY24, concluding on December 31, 2023. While facing a 10.3 percent QoQ revenue dip primarily due to reconciliation adjustments, the international market continued to drive 92 percent of the total revenue during Q3FY24. The company witnessed a reduction of 8.6 percent in operating expenses (opex) costs, and its gaming business displayed notable growth with a 38.8 percent YoY increase in revenue for the first nine months of FY24. Despite top-line challenges, OnMobile's EBITDA and operating profit experienced significant YoY growth, setting a promising tone for future quarters.

The third quarter financial results of OnMobile Global Limited for FY24 have been unveiled, revealing a 10.3 percent QoQ revenue decline, primarily attributed to reconciliation adjustments. Notably, the international market dominated, contributing 92 percent of the total revenue during Q3FY24. Despite these challenges, the company demonstrated cost-effectiveness by reducing opex costs by 8.6 percent. The mobile gaming segment witnessed substantial growth, with 14 operators going live in Q3 FY24 and 89 during the first nine months of FY24. The robust gaming performance contributed to a notable 38.8 percent YoY increase in revenue. The EBITDA and operating profit showed remarkable growth on a YoY basis, showcasing resilience amidst short-term challenges.

OnMobile Global Limited, a global leader in mobile gaming and entertainment, has unveiled its financial results for Q3FY24, concluding on December 31, 2023. The quarter witnessed a 10.3 percent QoQ decline in revenue due to reconciliation adjustments, with international revenue constituting a substantial 92 percent of the total. Despite these challenges, OnMobile efficiently managed its opex costs, reducing them by 8.6 percent. The mobile gaming segment emerged as a highlight, boasting 14 operators going live during Q3 FY24 and a significant 38.8 percent YoY increase in revenue for the first nine months of FY24. The growth in EBITDA and operating profit reflects the company's strategic resilience amidst evolving market dynamics.

OnMobile Global Limited, a prominent player in mobile gaming and entertainment, has disclosed its financial results for the third quarter of FY24, concluding on December 31, 2023. Despite facing a 10.3 percent QoQ revenue dip attributed to reconciliation adjustments, the international market remained a strong contributor, accounting for 92 percent of the total revenue during Q3FY24. The quarter saw an 8.6 percent reduction in opex costs. The gaming business emerged as a bright spot, witnessing the addition of 14 operators during Q3 FY24 and contributing to a noteworthy 38.8 percent YoY revenue increase for the first nine months of FY24. The robust financials in EBITDA and operating profit highlight OnMobile's ability to navigate challenges and foster growth in its gaming segment.

 
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