Sungy Mobile +3.5% AH on Q4 beat, app product growth

|About: Sungy Mobile Limited (GOMO)|By:, SA News Editor

Sungy Mobile's (GOMO) Q4 revenue beat consensus by $500K, and its EPS by $0.11. The company expects Q1 revenue of RMB92M-RMB95M ($14.8M-$15.3M); the sole Q1 sell-side revenue estimate is at $14.9M.

Q4 gross margin was 75.1%, up from 65.3% a year ago. While revenue rose 63.5%, opex rose 82.1% Y/Y to $8.7M.

Mobile app product/services sales were Sungy's main growth driver, rising 230.7% Y/Y to $8.4M. Mobile reading services +15.9% to $4.3M, mobile portal ads -12% to $2.4M. A 407.6% Y/Y increase in ad sales for Sungy's GO apps fueled mobile app product growth.

Total GO app users rose 76% Y/Y to 364M, but paid downloads only rose 18.2% to 600K. GO monthly active users rose 44.6% to 94M.

Q4 results, PR