Funcom Q2 2012 Highlights

Funcom’s second quarter finances are out, and the results are rather predictable. Since we already know from previous reports that The Secret World failed to meet up to Funcom’s expectations, and greatly so, it comes as little surprise that the recently launched MMO has pulled in less than half of Funcom’s previous “Conan-like” scenario. The second quarter also has the bad luck of taking in all of The Secret World’s development costs with little of its income, due to head start not beginning until the end of July.

The Company still considers it likely that sales for the 12 months period following launch of the game will be less than half of what was presented in the Conan-like scenario in 1Q presentation.

Revenue was down once again compared to the previous quarter, due to Funcom’s main source of revenue (Age of Conan) taking yet another hit in sales. That being said, all of Funcom’s currently launched MMOs are rated as “cash flow positive.” The Secret World has sold more than 200,000 copies since launch, as noted in the filing, with what Funcom says is a strong and positive reaction from its user base. Funcom recently launched a number of titles, including The Secret World, the MOBA Bloodline Champions, and a couple of free to play social games.

For the future, Funcom has a few titles under its belt. Revealed earlier this year, Funcom has partnered with Lego to create an MMO based on the mini-figures. Additionally, the report mentions a large-scale MMO titled “Project A.” No doubt we will be hearing more about that in the future.

(Source: Funcom Investor)

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