Giant taps games to lift profit by 14%
Print Edition
Giant Interactive Inc yesterday posted third-quarter net profit growth of 14 percent due to a rise in paying players and rich game portfolios after expanding into mobile games.
Giant President Ji Xuefeng said he expects stronger rivalry in the mobile game industry, which will lead to smaller firms with poor games closing.
In the third quarter, Giant’s net profit was 356 million yuan (US$58.1 million). Revenue rose 9 percent year on year to 590 million yuan in the quarter.
“Giant owns a healthy game pipeline, including six games in operation, covering three MMORPGs (massive multi-player online role playing games), two web games and at least two mobile games, which should continue to fuel its growth,” Morgan Stanley said in a report yesterday.
World of Xianxia, a new game, contributed more than 10 percent of Giant’s sales in the quarter. It received a strong market response since beginning beta testing in September, according to Giant.
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