Perfect World Co Ltd (ADR) (PWRD)

[skudaddy]

Perfect World Q2 2008 Profits up 214%

Xinhua-PRNewswire, 8/18/08

Chinese online game developer and operator Perfect World (Nasdaq: PWRD) has announced its unaudited financial results for Q2 2008, with total revenues reaching RMB 334.4 mln (USD 48.8 mln), up 157.8% year-on-year and 10.3% quarter-on-quarter.

Net income for the quarter came to RMB 164.5 mln (USD 24.0 mln), up 214.1% YoY and 3.9% QoQ.

Q2 online game operation revenues were RMB 299.4 mln (USD 43.6 mln), an increase of 13.2% quarter-on-quarter, and 168.5% year-on-year.

Aggregate average concurrent users (ACU) for games under operation were approximately 619,000, up 39% YoY, but down 6% QoQ. Active paying customers (APC) for games under the item-based revenue model were approximately 1.5 mln, up 48% YoY, but down 10% QoQ. Average revenue per active paying customer (ARPU) for games under the item-based revenue model was RMB 188, an increase of 92.2% YoY and 24.9% QoQ. The quarterly decreases were attributed to the May 12 earthquake, and the subsequent effect it had on online gaming, including the suspension of game services during 3 days of national mourning.

Overseas licensing revenues were RMB 35.0 mln (USD 5.1 mln), an increase of 92.6% YoY, but a decrease of 9.5% QoQ.

The company estimates Q3 2008 revenues will range between RMB 368 mln and RMB 385 mln. This represents a quarterly increase of 10% - 15%.

To view Perfect World's full Q2 2008 results, please click here.