Gameloft financials: Q1 sales up 21% at €54.2 million, F2P model wins big

Gameloft has released its Q1 financial report, signalling a year-on-year sales increase of 21%, totalling €54.2 million.

The report was sent to VG247 this afternoon, and confirmed that Gameloft's Q1 sales on smartphones and tablets rose by 71% year-on-year, and made up 60% of the company's total sales, compared to 43% in the same period last year.

Free-to-play has proven to be a big win for Gameloft, as 67% of the company's total smartphone sales came from in-app purchases. The report cited Modern Combat 4: Zero Hour, World at Arms, My Little Pony, Ice Age Village, Order & Chaos Online, Gangstar Rio: City of Saints and Asphalt 7: Heat as key contributors.

New releases Dungeon Hunter 4, Iron Man 3 and Order & Chaos Duels were also name-dropped as strong releases in 2013 so far.

Gameloft's next financial report will drop July 25, 2013.