SEOUL—Mobile entertainment company WiderThan Co. Ltd. reported increased income and revenue for the second quarter.
Net income was $4.6 million, more than double the net income of $1.6 million reported during the same period last year. The company logged revenues of $33.1 million, up almost 50 percent from the $22.2 million reported last year during the second quarter and beating average analyst estimates of $31.09 million.
The company said it added 1.5 million new ringback-tone subscribers during the quarter, bringing its total active ringback-tone subscriber base to 16.9 million.
The company also offered third-quarter guidance, with revenues of between $31 million and $33 million with net income of between $3.9 million and $4.3 million. The forecast is on par with average analyst expectations of $32.35 million in revenues for the quarter.
