First Quarter 2009 Net Revenues Increased 9.1% QoQ to US$162.0 Million,
Operating Income Increased 10.3% QoQ to US$66.7 Million
Diluted Earnings per ADS US$0.78
Shanghai, China—June 2, 2009—Shanda Interactive Entertainment Limited (NasdaqGS: SNDA), or Shanda, a leading interactive entertainment media company in China, today announced its unaudited consolidated financial results for the first quarter ended March 31, 2009.
First Quarter 2009 Highlights(1)
• Consolidated net revenues increased 42.0% year-over-year and 9.1% quarter-over-quarter to a record high of RMB1,107.1 million (US$162.0 million), compared to the Company’s previous guidance of quarter-over-quarter growth between 3% and 5%.
• Massively multi-player online role-playing games (MMORPGs) related revenues increased 47.4% year-over-year and 8.0% quarter-over-quarter to RMB944.5 million (US$138.2 million).
• Casual games(2) related revenues increased 1.1% year-over-year and 21.3% quarter-over-quarter to RMB117.9 million (US$17.2 million).
• Operating income increased 46.0% year-over-year and 10.3% quarter-over-quarter to RMB455.7 million (US$66.7 million).
• Non-GAAP(3) net income increased 23.2% year-over-year and 10.0% quarter-over-quarter to RMB374.7 million (US$54.8 million). Non-GAAP earnings per diluted ADS were RMB5.48 (US$0.80), compared with RMB4.14 in the first quarter of 2008 and RMB4.90 in the fourth quarter of 2008.
• Net income increased 25.0% year-over-year and 10.6% quarter-over-quarter to RMB361.0 million (US$52.8 million). Earnings per diluted ADS were RMB5.28 (US$0.78), compared with RMB3.94 in the first quarter of 2008 and RMB4.70 in the fourth quarter of 2008.
• Active paying accounts (APA) for MMORPGs increased 22.1% quarter-over-quarter to 7.19 million. Average monthly revenue per active paying account (ARPU) for MMORPGs decreased 11.5% quarter-over-quarter to RMB43.8.
• APA for casual games(2) increased 37.7% quarter-over-quarter to 2.06 million. ARPU for casual games(2) decreased 11.9% quarter-over-quarter to RMB19.1.
(1) The conversion of Renminbi (RMB) into U.S. dollars in this release is based on RMB6.8359 to US$1.00 as published by the People's Bank of China on March 31, 2009. The percentages stated in this press release are calculated based on the RMB amounts.
(2) Casual games include advanced casual games, online chess and board game platforms, and e-sports platform.
(3) Non-GAAP measures are disclosed below and reconciled to the corresponding GAAP measures in the section below titled "Non-GAAP Financial Measures".
"Shanda achieved another solid quarter of growth during the first quarter of 2009, which further demonstrates the Company’s leadership position in the interactive entertainment media industry," said Tianqiao Chen, Chairman and Chief Executive Officer of Shanda. “Looking forward, we will make continuous efforts to enhance our users' interactive entertainment experience by combining our integrated service platform with our diversified content businesses.”
More at:
http://www.shanda.com.cn/en/investor/newsdetail.aspx?id=761
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