UPDATE 1-Perfect World Q2 profit misses Wall Street view
August 18th, 2008 | by admin |(Recasts, adds details)
Aug 18 (Reuters) - Chinese online-game developer PerfectWorld Co Ltd’s (PWRD.O: Quote, Profile, Research, Stock Buzz) quarterly earnings missed Wall Streetestimates, hurt by a three-day suspension of operations relatedto the Sichuan earthquake and higher expenses.
For the second quarter, the company earned $24.0 million,or 40 cents per American Depository Shares, on revenue of $48.8million.
Analysts were expecting the company to earn 41 cents ashare, on revenue of $49.7 million, according to ReutersEstimates.
Due to the Sichuan suspension, active paying customers — akey metric for online-gaming companies — dropped to about 1.5million in the quarter from 1.7 million in the first quarter.
Average revenue per customer (ARPU), however, rose about 25percent from the first quarter.
Perfect World, known for its namesake 3D online game, hasmassively multiplayer online role playing games (MMORPGs) like”Legend of Martial Arts” and “Perfect World II” in itsportfolio.
The company has five MMORPGs under development, includingtwo that are expected to be launched by the end of 2008 orearly 2009, it said in a statement.
Most Chinese gaming companies have been hit by the nationalperiod of mourning for the tens of thousands of victims of theearthquake that struck the Sichuan province of China in May.All public entertainment was suspended during the period. (Reporting by Saumyadeb Chakrabarty in Bangalore; Editing byVinu Pilakkott)
