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Saturday, January 28, 2006 7:47:18 PM
SNDA - Has it bottomed?
Shanda 3Q Profit Rises to $32.3 Million
Wednesday November 9, 5:50 pm ET
Shanda Interactive Entertainment Third-Quarter Earnings Up More Than 50 Percent to $32.3 Million
NEW YORK (AP) -- Shanda Interactive Entertainment Ltd., a Chinese operator of online gaming networks, said Wednesday that its third-quarter profit jumped more than 50 percent from a year ago, but that sales did not keep pace with the immediately preceding quarter.
Analysts had been expecting higher revenue, and the company's American depositary shares declined 7.7 percent in after-hours trading to $21.50.
The company earned 261.1 million yuan ($32.3 million), or 3.56 yuan (44 cents) per ADS. That's up from 165.1 million yuan, or 2.20 yuan per ADS, a year ago.
Revenue rose 41 percent to 499.7 million yuan ($61.7 million) from 353.3 million yuan. Still, Shanda said sales were about 7 percent below the second quarter.
Analysts surveyed by Thomson Financial expected earnings of 37 cents per ADS on sales of $65.7 million.
Revenue from one game, Mir II, dropped 34 percent from a year ago. The game is the subject of a licensing dispute, and a case is pending in Chinese court.
Shanda said peak concurrent users for all its games in commercial service rose to about 2.6 million from 2.5 million.
Shanda 3Q Profit Rises to $32.3 Million
Wednesday November 9, 5:50 pm ET
Shanda Interactive Entertainment Third-Quarter Earnings Up More Than 50 Percent to $32.3 Million
NEW YORK (AP) -- Shanda Interactive Entertainment Ltd., a Chinese operator of online gaming networks, said Wednesday that its third-quarter profit jumped more than 50 percent from a year ago, but that sales did not keep pace with the immediately preceding quarter.
Analysts had been expecting higher revenue, and the company's American depositary shares declined 7.7 percent in after-hours trading to $21.50.
The company earned 261.1 million yuan ($32.3 million), or 3.56 yuan (44 cents) per ADS. That's up from 165.1 million yuan, or 2.20 yuan per ADS, a year ago.
Revenue rose 41 percent to 499.7 million yuan ($61.7 million) from 353.3 million yuan. Still, Shanda said sales were about 7 percent below the second quarter.
Analysts surveyed by Thomson Financial expected earnings of 37 cents per ADS on sales of $65.7 million.
Revenue from one game, Mir II, dropped 34 percent from a year ago. The game is the subject of a licensing dispute, and a case is pending in Chinese court.
Shanda said peak concurrent users for all its games in commercial service rose to about 2.6 million from 2.5 million.
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