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ChangYou beats expectations with $119m sales

By Dan Pearson

Tue 01 Nov 2011 8:48am GMT / 4:48am EDT / 1:48am PDT

Chinese company sees profit of $52.8m as sales increase 39% y-o-y

ChangYou (NASDAQ: CYOU) is a leading developer and operator of online games in China. We began operations...

Chinese MMO operator ChangYou has exceeded its sales expectations with quarterly revenues of $119 million - the company's highest quarter yet.

Those sales represent a climb of 13 per cent since last quarter and 39 per cent year on year. Profits were also up, sitting at $52.8 million - a 17 per cent increase since the same quarter last year, but a slight drop of three per cent since last quarter.

The company's peak users, aggregate total paying accounts, and the ARPU of those accounts all increased for the quarter, too.

"Our blockbuster Tian Long Ba Bu, or TLBB, continues to expand player numbers with the release of each new expansion pack that adds sought-after new game play that is requested by our players," commented Changyou CEO Tao Wang.

"After the release of the major expansion pack TLBB3 on October 20th, the number of users and the number of active paying accounts increased.

"Meanwhile, our new self-developed 3D MMO game, Duke of Mount Deer, or DMD, which launched on July 22, appeals to hard-core game players with its new technologies and advanced cross-server game play.

"We believe these results once again demonstrate our ability to understand and fulfil gamers' needs and showcase our content development and game operation strengths. 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."

The company has predicted an even more successful period over the next quarter, raising revenue expectations to between $122 and $125 million.

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