Online games lift earnings at Shanda

By Ding Yining | June 4, 2009, Thursday |

Print Edition

SHANDA Interactive Ltd, a leading interactive entertainment media company, said its revenue exceeded previous predictions with strong performance of its online game business.

"Shanda will continue the strategy of becoming a provider of centralized platform and decentralized content," said Tianqiao Chen, chairman and CEO of Shanda.

First-quarter profit increased 10.6 percent from the previous quarter and 25 percent year-on-year to 361 million yuan (US$52.8 million), or US$0.78 per share.

First-quarter revenue rose 42 percent from the same period last year to US$162 million. Revenue from multi-player online role-playing games jumped 47.4 percent from the same period last year and contributed 85 percent of total revenue.

"The spin-off of Shanda's online game department is consistent with our strategy of becoming an interactive entertainment service provider," Chen said yesterday when asked about the potential initial public offering of Shanda Games Ltd.

Shanda has submitted a statement to the United States Securities and Exchange Commission for an IPO of its online game operator on May 25.

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Online games lift earnings at Shanda

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