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Perfect World's Forsaken World Fuels Q2 Revenues, Profits

Major Chinese MMO operator Perfect World has posted financial results for the second quarter of the 2011 fiscal year, noting a significant increase in both revenue and profits due to solid results from its key MMO releases.
Major Chinese MMO operator Perfect World has posted financial results for the second quarter of the 2011 fiscal year, noting a significant increase in both revenue and profits. The company attributed the solid results to the launch of its latest titles, 3D MMORPG Forsaken World and Empire of the Immortals. It noted that, in particular, it had received good feedback from U.S. and European Forsaken World players. Michael Chi, chief executive officer of Perfect World, also noted the recent acquisition of Champions Online developer Cryptic Studios, explaining, "This strategic acquisition will help us further penetrate into the U.S. and European markets and further strengthen our well established R&D and operational capabilities globally." For the period ended June 30, 2011, Perfect World saw revenues of RMB779.6 million ($120.6 million), compared to RMB592.5 million ($92.63 million) in the same quarter of last year. The company's profits jumped up to RMB316.6 million ($49.0 million), compared to RMB196.6 million ($30.74 million) year-on-year. Looking to the third quarter, Chi said that the company is "confident" about its upcoming 2D martial-arts MMORPG Heaven Sword and Dragon Saber, although he noted that, "we do not expect a significant revenue contribution from this game until later in the year." The company also noted strong bottom-line growth in the first quarter earlier this year, with revenue growth surpassing the high end of the company's internal expectations.

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