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China's ChangYou Beats Projections In Record Third Quarter

Leading Chinese online game developer and operator Changyou.com Limited reported $119 million in revenue and $53 million in profits for its third fiscal quarter ending September 30.
Leading Chinese online game developer and operator Changyou.com Limited reported a record $119 million revenue for its third fiscal quarter ending September 30. The revenue surpasses analyst estimates, which averaged out to $117.5 million. The figure represents a 39 percent growth from the same period last year, making this the company's fifth consecutive quarter of double-digit growth. Profit was up 16.6 percent versus the same period last year, from $45.3 million to $52.8 million. Registered game accounts rose as well: the 159 million registered users represents a 21 percent quarter-over-quarter and a 51 percent year-over-year growth. "We believe these results once again demonstrate our ability to understand and fulfill gamers' needs and showcase our content development and game operation strengths," CEO Tao Wang said. "We anticipate bringing a greater variety of games to market in the following quarter and next year to further advance our leading position in the online game industry." Much of the company's success came from its popular MMO Tian Long Ba Bu, which continues to be supported with expansion packs. Also popular is its 3D MMO Duke of Mount Deer, which launched July 22.

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