KZ
KongZhong CorporationNASDAQ
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  • Mon, Dec. 5, 5:02 PM
    • KongZhong (NASDAQ:KZ): Q3 EPS of $0.13
    • Revenue of $40.97M (+6.2% Y/Y)
    • Press Release
    | Mon, Dec. 5, 5:02 PM
  • Sun, Dec. 4, 5:35 PM
    | Sun, Dec. 4, 5:35 PM | 1 Comment
  • Mon, Aug. 29, 7:08 PM
    • KongZhong (NASDAQ:KZ) saw profits rise substantially in its Q2 earnings, largely with the help of a good comp.
    • The year-ago quarter featured a $35M impairment loss, though the game maker also trimmed its cost of revenues.
    • Consolidated sales fell 2.5% Y/Y (and 9.9% from Q1) to $46.35M, but non-GAAP net income jumped 46.2% to $8.21M, also up 22.1% sequentially. Revenues continue to shift toward Internet games and the company will keep concentrating its efforts on its War Saga game platform.
    • Revenue by segment: Internet games, $32.9M (up 34.6%); Mobile games, $5.4M (down 42.4%); Wireless value-added services, $7.99M (down 41.5%).
    • Monthly active users rose to 2.41M from a year-ago 1.83M. Aggregated monthly paying accounts rose 19% to 389,000; monthly average revenue per user was up 19.1% to 181 yuan.
    • At quarter's end, the company had $158.8M in cash and equivalents, term deposits, held-to-maturity securities, available-for-sale securities and restricted cash -- about $3.37 per ADS.
    • Conference call to come at 7:30 p.m. ET.
    • Press Release
    | Mon, Aug. 29, 7:08 PM
  • Mon, Aug. 29, 6:02 PM
    • KongZhong (NASDAQ:KZ): Q2 EPS of $0.17
    • Revenue of $46.35M (-2.5% Y/Y)
    • Press Release
    | Mon, Aug. 29, 6:02 PM
  • Thu, Aug. 25, 11:52 AM
    • Chinese game maker KongZhong (KZ +0.5%) says it's gotten a revision to a longstanding go-private offer from its chairman and chief executive officer.
    • A new nonbinding offer letter has come from Leilei Wang and his buyer group (including IDG-Accel China Growth Fund) offering to acquire outstanding shares for $7.18/ADS, about an 11.5% premium to current price.
    • A previous offer from the buyer group had come in at $8.56/ADS in June 2015.
    • The board's special committee is evaluating the revised proposal, the company says.
    | Thu, Aug. 25, 11:52 AM
  • Wed, Jun. 15, 6:09 PM
    • KongZhong (NASDAQ:KZ): Q1 EPS of $0.54
    • Revenue of $51.44M (+1.8% Y/Y)
    | Wed, Jun. 15, 6:09 PM
  • Thu, Mar. 24, 7:29 PM
    • KongZhong (NASDAQ:KZ) posted profits that fell nearly 32% in its Q4 earnings report though revenues exceeded guidance.
    • Those revenues fell 31%. By segment: Internet games, $30.5M (up 3.5%); Mobile games, $1.98M (down 87%); Wireless value-added services, $10M (down 41%).
    • Monthly active users climbed to 2.69M from a year-ago 1.84M. Aggregated monthly paying accounts rose to 448,000 from prior year's 327,000; monthly average revenue per user was 144 yuan, down from 185 yuan.
    • KongZhong says it will concentrate future efforts in Internet/mobile games around its War Saga military game platform.
    • At year-end, the company had $163.4M in cash and equivalents, term deposits, held-to-maturity securities, available-for-sale securities and restricted cash.
    • Conference call at 7:30 p.m. ET.
    | Thu, Mar. 24, 7:29 PM
  • Thu, Mar. 24, 6:03 PM
    • KongZhong (NASDAQ:KZ): Q4 EPADS of $0.15 vs. $0.22 in 4Q14
    • Revenue of $42.48M (-31.1% Y/Y)
    | Thu, Mar. 24, 6:03 PM
  • Nov. 27, 2015, 1:33 PM
    • In the holiday lull, Chinese game maker KongZhong (KZ -0.4%) said it's approved a sale of most of its stake in Ourgame International to Glassy Mind Holdings, for $30.9M.
    • The deal involves selling 39.2M shares of Ourgame at a price of HK$6.1062 -- coming to about $30.9M with about 80% in immediate cash, and the remainder in cash on Sept. 30, 2016.
    • KongZhong had held the shares since before Ourgame went public in Hong Kong in June 2014. It will retain a stake of about 2.6% (20.74M shares).
    | Nov. 27, 2015, 1:33 PM
  • Nov. 23, 2015, 6:36 PM
    • KongZhong (NASDAQ:KZ) is off just slightly after hours, -0.2%, after logging Q3 results where income per ADS fell 41% as revenues slid 35%.
    • The company says it's going to concentrate Internet game development and mobile game development/licensing toward military-genre games, to boost its War Saga brand.
    • Revenue by segment: Internet games, $23.75M (down 26.1%); Mobile games, $2.7M (down 76.2%); Wireless value-added services, $12.2M (down 25%).
    • In Internet games, monthly average users fell to 1.81M from 2.21M, and aggregated monthly paying accounts fell to 307K from 343K.
    • Monthly average revenue per user fell to 160 yuan from a year-ago 193 yuan.
    • Conference call to come at 7:30 p.m. ET.
    | Nov. 23, 2015, 6:36 PM
  • Nov. 23, 2015, 5:09 PM
    • KongZhong (NASDAQ:KZ): Q3 non-GAAP EPADS of $0.10
    • Revenue of $38.58M (-35.3% Y/Y)
    | Nov. 23, 2015, 5:09 PM
  • Nov. 3, 2015, 1:39 PM
    • Chinese game maker KongZhong (NASDAQ:KZ) says the special board committee charged with examining a go-private offer has retained financial advisers and legal counsel for the evaluation.
    • Duff & Phelps and Skadden, Arps, Slate, Meagher & Flom are assisting in the committee's look at a June 29 offer from Chairman/CEO Leilei Wang to buy the rest of the company for $8.56/ADS.
    • Shares are down 0.4% today to trade at $6.91; when proposed, the deal was at about a 20% premium over 30-day average price, vs. a 23.9% premium today.
    • Previously: KongZhong up 6.5%, forms committee to probe go-private offer (Jul. 08 2015)
    • Previously: KongZhong's go-private offer: Too low, or shaky? (Jun. 30 2015)
    | Nov. 3, 2015, 1:39 PM
  • Aug. 17, 2015, 7:08 PM
    • Game maker KongZhong (NASDAQ:KZ) posted a Q2 earnings report where non-GAAP profits quadrupled to $0.12/share, though revenue fell across the board and as a committee of two independent directors evaluates a go-private offer from CEO and Chairman Leilei Wang.
    • Wang and management have offered to buy the 75% of the company they don't own for $8.56/ADS; shares closed today at $7.14 and are down 0.1% after hours.
    • The company took a $35.2M impairment loss on intangible assets related to licensing for Guild Wars 2 that made for a GAAP loss overall of $15.3M.
    • Revenue by segment: Internet games, $24.5M (down 22.9%); Mobile games, $9.4M (down 10.2%); Wireless value-added services, $13.7M (down 9.7%).
    • At quarter's end, $200M in cash and equivalents. It's guiding to Q3 revenues of $40M-$41M, and non-GAAP net income of about $5M, due to stable Q/Q performance in internet games, but a "decline in our mobile game business due to a delay of new mobile game launches and a decline in our WVAS business due to impact from mobile operator policies."
    • Conference call to come at 7:30 p.m. ET.
    | Aug. 17, 2015, 7:08 PM
  • Aug. 17, 2015, 6:02 PM
    • KongZhong (NASDAQ:KZ): Q2 EPADS of $0.12
    • Revenue of $47.55M (-17.8% Y/Y)
    | Aug. 17, 2015, 6:02 PM
  • Jul. 8, 2015, 11:04 AM
    • KongZhong (NASDAQ:KZ) is up 6.5% as it forms a special committee (in its case, two independent directors) to evaluate the going-private proposal from Chairman/CEO Leilei Wang.
    • Wang and management held about 25% of the company and have offered to buy the rest for $8.56/ADS, which was about a 20% premium over the 30-day average price. The directors, Hope Ni and Xiaolong Li, will have exclusive authority to evaluate and respond to the proposal.
    • The company's trading at $6.54 on Nasdaq, and shares are down about 7% from the time the offer was received.
    • Previously: KongZhong's go-private offer: Too low, or shaky? (Jun. 30 2015)
    | Jul. 8, 2015, 11:04 AM
  • Jun. 30, 2015, 1:35 PM
    • China's going-private wave came to online games publisher KongZhong (NASDAQ:KZ) as Chairman/CEO Leilei Wang proposed buying the rest of the company for $8.56/ADS -- about a 20% premium over 30-day average ADS price -- but that might still be too low, argues SA contributor China Stock Research.
    • Its trailing PE multiple, about 17.8x, trails Chinese peers like Feiyu (24.2x) and Ourgame (over 30x), and with a light asset structure, the company has robust cash flow (AOCF of $0.87/year per ADS).
    • On the other hand, sliding Chinese markets could give some buyout backers cold feet, even with solid backers like KongZhong has, says Doug Young.
    • IDG's behind management's offer, but the KongZhong deal may be the last of this wave of going private for U.S.-listed China companies until investors get a better handle on the China market's stability, he says.
    • KongZhong picked up 4.7% on Monday, and is down 0.7% today, to $7.34. The bidding consortium held about 25% of the company prior to the offer, according to the fiscal 2014 annual report.
    | Jun. 30, 2015, 1:35 PM | 1 Comment