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Profits up over 18% for Shanda Games

By Matt Martin

Fri 18 Nov 2011 9:47am GMT / 4:47am EST / 1:47am PST

Strong quarter for Legend of Mir II publisher despite drop in monthly active users

Online games firm Shanda has reported quarterly sales pf $212.9 million for the period ended September 30, up 23.4 per cent.

Net profit for the period was also up 18.5 per cent to $53.9 million during the quarter off the back of titles such as Legend of Immortals.

"Our fourth consecutive quarter of growth shows that we are headed in the right direction as our strategic investments that have been directed towards delivering strong titles, an exciting pipeline of games, a revolutionary platform and expansion overseas are beginning to pay off," offered CEO Alan Tan.

"Our successful transition continues to build on the effective implementation of our strategy and we are excited about both our progress and our prospects."

Monthly active users for all of Shanda games operated in China were down three million on the previous quarter to 21 million, with monthly active paying users down from 4.6 million to 4.4 million.

Monthly active revenues per paying user were also down from the previous quarter from $14.8 to $14.4.

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