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Shanda yearly profits down despite diverse game releases

Chinese MMO operator Shanda Interactive has posted financial results for the full 2011 fiscal year, noting an increase in revenue but a slight drop in profits year-over-year.
Chinese MMO operator Shanda Interactive has posted financial results for the full 2011 fiscal year, noting an increase in revenue but a slight drop in profits year-over-year. The company noted that its gaming releases were more diverse in the last fiscal year, with "a constant steam of new content" released throughout the 12 months. In particular, it pointed out the launch of MMO Mir III, and its partnerships with Snail Game and Trion Worlds which allowed the company to operate Age of Wushu and Rift licensing respectively in China. Shanda also noted its various mobile game releases, and its technology which allows all of its games to be accessed through easy-to-use micro-clients. The company said that its push to enhance its global operations was seeing good results, with overseas revenue growing by 89 percent year-over-year. For the fiscal year ended December 31, 2011, the company posted revenues of 5.3 billion Chinese yuan ($838.3 million), up 17.3 percent year-over-year. 5.0 billion Chinese yuan ($789.6 million) of this figure was from online game revenues, up 15.2 percent year-over-year. Profits recorded were 1.3 billion Chinese yuan ($200.7 million), down 1.9 percent year-over-year.

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