Funcom Q1 profits rebound

Age of Conan developer income $1.47 million in the black as January-March earnings rise to $7.7 million.

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Funcom closed out its 2008 fiscal year on a grim note. While the Norwegian game company saw Age of Conan push revenues to $39.9 million during the 12-month period, Funcom suffered a sizable $33.8 million loss during the period. However, as indicated by Funcom at the time of its full-year report in February, the first part of 2009 has seen a stabilization in Age of Conan's user base, with subscription durations also on the rise.

The quest for honor and booty continues.

Substantiating those words with numbers, Funcom has revealed as part of its first-quarter earnings report that net income for the January-March period reached $1.47 million on $7.7 million in revenue. While not a particularly telling comparison given Age of Conan's May 2008 release, Funcom's current first-quarter financials compare to profits of $919,000 on revenues of $963,000 in 2008.

Funcom did not provide an update on Age of Conan's subscriber levels, saying only that the game "is seeing a significant increase in players and new customers per month." The game maker also noted that the average time spent playing the game is on the rise, as are average subscription periods.

Looking ahead to the April-June quarter, Funcom projected revenues of between $5 million and $7 million, led primarily by Age of Conan subscription fees. The Norwegian company also said that its cash reserves--which currently stand at $39.6 million--will be sufficient to launch its upcoming titles, including The Secret World, which was formally debuted during this year's Game Developers Conference.

Discussion

21 comments
ag_04
ag_04

I am curious about how many subscribers they currently have... I bet there are less than 20k all over the world. At least in my country it was like 500 on february...

slapstik89
slapstik89

i am sort of within rgsniper1's mentality, however, i've heard some good things (well better) about the game recently. I stopped subscribing 3 months into release as i was sick of grinding due to lack of lvl 58+ content. From what i've heard, this is no longer an issue, so i've just reinstalled and am in the process of patching (have just purchased a new months subscription to give it a shot). We'll see how it goes.

rgsniper1
rgsniper1

I played (that's putting it very very nicely) Anarchy Online when it first came out. Well I mean I watched my guy move at like 1fps when I could even log in at all. So anyway, I was very skeptical about AoC as I new that Un-Funcom was very capable of making a complete turd, but my friend talked me into it anyway. Yeah it wasn't "as bad" as Anarchy Online but it was far from good. That said, I left and never looked back. Now on the other hand if they'd send me a check to reimburse me for the months of Anarchy that I suffered through only to have them reward brand new sign ups with all kinds of incentives all the while crapping on players that were there from the start....well I'd give AoC another shot. After all, I'm a forgiving man.

killeridis
killeridis

most bugs have been fixed and a huge patch is coming. as for now the game is very enjoyable i think.

cmsileo
cmsileo

The bugs have been mostly fixed, as I was in your same situation. I recommend giving it a try again, especialy since you already own the game so it's only $15 to try again. Save april!

turb06
turb06

i bought AoC on release but stopped almost straight away because it was buggy. have those bugs been fixed? as i wouldnt mind actually playing this game.

Humorguy_basic
Humorguy_basic

If they hadn't buggered up Dreamfall, they wouldn't have these money problems. April Ryan, today, should be as well known as Lara Croft and Gordon Freeman. The fact she isn't is the biggest mistake any publisher on any platform have madein the last decade. On these revenues I do not know, for the life on me, why people below are talking about and still expecting a follow-up to Dreamfall! Hope over reality, I suppose.

Toek
Toek

Intriguing.

Scullyy
Scullyy

dreeeeeeeeeeeeeeamfall

bodylotion
bodylotion

The Secret World indeed looks like Dreamfall , even the girl looks pretty much like Zoe. so that's a good thing. I hope they're working on the next dreamfall.

chappy_man
chappy_man

glad to hear secret world is coming, if its anything like the trailer it should be awesome

AlkalineTrio666
AlkalineTrio666

good for them!!! sO does this mean they will start working on Dreamfall's next game?? I hope so!!

ShadowJake
ShadowJake

the secret world looks awesome. hopefully the 360 version has no monthly fee...

mattgressel
mattgressel

I just go me a game card fo AoC today after not playin for about a year lvl 56 hope there more peeps in my area now to help with missions

Crzy1
Crzy1

Recently returned to AoC and have been enjoying it quite a bit. If only it had been released in the state that it is in now it might have been able to steal away more subscribers than it did at launch. Hope they can get to work on the next part of Dreamfall soon, as well.

Jaffre
Jaffre

While I am dissapointed of what Funcom did with AoC I think they've still got a chance with Secret World, especialy if they've got Ragnar working on it. He's pretty good at what he does >:D

SrTVBR
SrTVBR

The problem was that AoC was released in alpha stage with tons of bugs So thats why ppl get pissed.

jazilla
jazilla

Funcom says, "you want in depth game play past level 30?" Users say, "Yeah we do, and you don't have it." GG Funcom. G to the G.

airshocker
airshocker

Lol at Failcom. Maybe they should have given us a finished product(AoC) and they wouldn't have seen the losses they did last quarter. No sympathy for a game company who lies to it's user-base.