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Chinese MMO Operator Shanda Reports Q3 Drop In Profits

Chinese MMO operator Shanda has posted financial results for the third quarter of the current fiscal year, noting an increase in revenue year-over-year, but a notable drop in profits.
Chinese MMO operator Shanda has posted financial results for the third quarter of the current fiscal year, noting an increase in revenue year-over-year, but a notable drop in profits. As part of the earnings report, Shanda said that these results signify the company's latest "strategic decisions" that were put into effect to keep it growing steadily in the long-term. Shanda is one of the leading MMO operators in China, operating online games including AION, MapleStory and The World of Legend. Tianqiao Chen, president of Shanda, explained, "We continued to expand the scope of our business segments in the third quarter of 2011 as we integrated our diverse content portfolio and invested in our future growth." "As we focus on developing cutting-edge technologies and make the strategic decisions that are necessary to support our long term growth, we believe these efforts will enhance our strength, competitiveness and adaptability as we continue to evolve into a leading global interactive entertainment media group." For the quarter ended September 30, 2011, the company's Games department reported revenues of 1.4 billion Chinese yuan ($212.6 million), an increase of 23.4 percent year-over-year. In comparison, Shanda Online recorded revenues of 344.1 million Chinese yuan ($54.1 million), up 35.2 percent compared to the same quarter in the previous fiscal year. Overall, the company saw revenues of 1.8 billion Chinese yuan ($278.7 million), up 28.0 percent compared to the same quarter last year, and profits of 74.9 million Chinese yuan ($11.8 million), down 43.7 percent year-over-year. Looking to the current quarter, the company noted that its recent parent acquisition took place outside of the third quarter, and will affect the fourth quarter and full year results.

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