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ChangYou profits and revenues up for Q2, 2012

ChangYou profits and revenues up for Q2, 2012

Mon 06 Aug 2012 2:29pm GMT / 10:29am EDT / 7:29am PDT
Financial

Profit of $69.1m (£44.2m) from sales of $147.3m (£94.36m)

ChangYou

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

changyou.com/en/

Chinese online operator ChangYou has recorded record revenue and profit for the second quarter of financial 2012, ending June 30, 2012.

The company registered sales of $147.3 million (£94.36m), over $137 million of which came from online games - $10 million of the rest came from advertising with the leftover from other sources. That figure represents a quarterly rise of eight per cent and a year on year increase of over 30 per cent.

Profits rose too, with GAAP net income reaching $69.1 million, a six per cent quarterly increase and a 14 per cent rise year-on-year.

"Our strong financial performance demonstrates the resilience of the online games business to business cycles and the current economic slowdown," said CEO Tao Wang.

"Looking ahead, the outlook for online games is strong, particularly as gamers globally increasingly demand quick access to games online and as new game formats, like web games, gain popularity. With the launch of several MMO and web games in the second half of the year, we look to acquire more users and capture market share to further strengthen our position as a leading game developer and operator in China."

Key to the success of the company is its rapidly rising ARPU, which has shot up by 23 per cent since last quarter and a huge 31 per cent, year-on-year and is now verging on £30/$43.46 at RMB277.

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