Deus Craft

Oct 26, 2020

0 Message : *Required fields Oct 26 (Reuters) - Russian internet group Mail.ruon Monday reported a 19.9% rise in third-quarter revenue aslockdowns boosted gaming though growth slowed from the secondquarter as restrictions eased. Mail.ru, which owns the popular Vkontakte and Odnoklassnikisocial networking websites, generates the bulk of its revenuefrom advertising and games. The London-listed company reported total revenue of 26.37billion roubles ($344.90 million). Gaming revenue jumped 33.8%,easing from a rise of 47.7% in the second quarter. Net profitfell 19.5% year-on-year to 2.84 billion roubles. Mail.ru expects gaming revenue to grow by about 30% in 2020,as it expands the segment. Earlier this month, its My.Games unit agreed to take acontrolling stake in Russian game developer Deus Craft for up to$49.1 million. Mail.ru said consolidation of Deus Craft had contributed tothe growth in gaming revenue. Excluding Deus Craft'scontribution, total revenue rose by 16.2% to 25.55 billionroubles. Advertising revenue increased 5% year-on-year with activitygradually recovering in the third quarter, it said. The company expects 2020 revenue to reach 103 billionroubles, within the range it forecasted prior to the pandemic. ($1 = 76.4562 roubles)(Reporting by Anna Rzhevkina and Olga Vyshnevska; editing byJason Neely, Kirsten Donovan) Stocks mentioned in the article Change