Shanda revenues jump 42.7%
Chinese games provider reports USD 136m in net revenue with an increase in its MMO business of 39.9 per cent
Shanda Interactive Entertainment has reported that its consolidated net revenues increased 42.7 per cent year-on-year to CNY 936.5 million (USD 136 million).
This represents a quarter-over-quarter growth of 11.8 per cent, compared with Shanda's earlier predictions of growth between 6 per cent and 9 per cent. The Chinese publisher also reported that operating income increased 50 per cent since the same period last year to CNY 381.5 million (USD 55 million).
"We are pleased to report another solid quarter despite the global financial turmoil," said Tianqiao Chen, chairman and CEO of Shanda. "Our third quarter results demonstrate the strength, breadth and balance of our company, as our 3C strategy continued to deliver."
Revenues from the company's MMO business increased 39.9 per cent to CNY 771.8 million (USD 112 million), while revenues from casual games increased 45.7 per cent to CNY 119.7 million (USD 17 million).
"We are confident that the online entertainment industry will be more resilient through the economic cycle, and Shanda is well positioned to take advantage of this opportunity to continue to invest in order to grow our business," Chen added. "We are committed to provide our customers with the highest possible quality content and services via superior service platforms."