Revenue Update on KongZhong Corporation (ADR)(NASDAQ:KZ)

KongZhong Corporation (ADR)(NASDAQ:KZ) announced the earnings results for Fiscal Year 2016 and Q1. The results came in during After-hours on Jun 15, 2016. Company reported revenue of $51.44M. Analysts estimated a revenue of $264.70M. Earnings per share were $0.14.

KongZhong Corporation (ADR) (KZ) remained unchanged at the close of Tuesday session. Even as the volume increased to 1,79,583 ,the shares failed to make any impression and ended at 0 points or 0.00% at $5.25. The trading session commenced at $5.27 and the stock hit a high of $5.5 and touched $5.17 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $8.2199 and the 52-week low is $5.09. The company has a market cap of $247 M and has approximately 4,71,03,326 outstanding shares.

KongZhong Corporation is a provider of digital entertainment services for consumers in the People’s Republic China (PRC). The Company provides feature phone mobile games on the networks of China Mobile. The Company operates in three segments: Internet games mobile games and wireless value-added services (WVAS). It is also a provider of WVAS to mobile phone users. In addition to developing and operating its self-developed Internet games such as Loong Demon Code and Kung Fu Hero it is an operator of the World of Tanks game for China Internet games market. The Company is also a licensee in China for the Guild Wars 2 game developed by ArenaNet Hawken game developed by Meteor Entertainment Blitzkrieg 3 game developed by ZZima Auto Club Revolution game developed by Eutechnyx and Guozhan Online game developed by Guangzhou Sixiang. It conducts its business in China through its wholly owned subsidiaries.

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