Modern Times Group saw marginal revenue growth in the second quarter, but the Swedish company didn't turn a profit.
In the three month period ended June 30, 2019, MTG earned SEK 1.12 billion (€106.4 million), up 7% year on year. However, it made a net loss of SEK 71 million (€6.7 million), narrowed from a SEK 136 million loss in the second quarter of 2018.
Gaming contributed the most revenue overall: SEK 648 million (€61.5 million), up 19% over the same quarter last year. It also saw growth in its esports revenue, which increased 8% to SEK 444 million (€42.2 million).
While it made no deals on the scale of its acquisitions of InnoGames and Kongregate, MTG remains a prolific investor. So far this year, it has made investments worth $11 million in esports and games startups.
Currently, its single most valuable IP is likely InnoGames' Forge of Empires, which reached €500 million in lifetime revenue in June. Half of that amount was earned in the last two years, the period in which MTG has been a major shareholder in the German developer.