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Crom Was Not Happy

Funcom announces $23 million loss last quarter based on $22 million depreciation of Age of Conan expenses, CFO resigns.

Shortly after Age of Conan launched, Funcom saw subscriber levels of 400,000, which rocketed up to 700,000 within a few months.

While Funcom’s cash position remains robust at USD 39.4 million, the company reported a full-year net loss of USD 33.8 million. According to estimates by DnB NOR Markets, subscriber levels for Age of Conan are below 100,000, reports E24.

However, revenues in the fourth quarter of 2008 rose to USD 8.7 million, up from USD 1.2 million year-on-year, due to subscription revenues from the MMO.