Shanda Games Net Drops as Govt Pulls Backing
Shanda Games (Nasdaq:GAME) made a net income of RMB 312.9 million in the first quarter of 2011, down 14.6% y-o-y and 4.9% from the previous quarter, with the quarterly decrease attributed to a reduction in government incentives in the quarter, according to a statement published June 1. The company reported net revenue growth of 9.6% y-o-y and 8.7% q-o-q to RMB 1.25 billion, with its MMORPG contribution climbing 8.8% y-o-y/5% q-o-q to RMB 1.09 billion, and its casual games business generating RMB 92.5 billion, flat y-o-y but up 49.4% q-o-q.
The company's MMORPGs saw active paying accounts (APA) increase 4.0% q-o-q to 9.85 million, and average monthly revenue per active paying account (ARPU) increase 0.9% q-o-q to RMB 37.0 in the period, while its casual games APA increased 22.0% q-o-q to 910,000 and casual game ARPU increased 22.5% to RMB 33.9, the report said.
Form submitted successfully. Thank you.