Perfect World announced second quarter revenues of 708.5 million RMB (US$115.4 million), up 13.5 per cent and exceeding analysts’ expectations.
The quarter’s key growth sector was online games, with earnings of 650.1 million RMB, accounting for 91.8 percent of operating income and up from the previous quarter’s 556.2 million RMB, a rise of 16.9 per cent.
Perfect World CEO Xiao Wang said: “This quarter’s strong performance was mainly due to the success of two new games; the Chinese release of the MMORPG Saint Seiya Online and the launch of the popular MMORPG Neverwinter in North America and Europe. Additionally this quarter, we released a number of web and mobile games and are developing more different types of titles, so that the breadth and depth of our extensive product line is more diversified. ”
However, the company’s net profits for the quarter were 80.7 million RMB (US$13.2 million), down 49 per cent. Xiao Wang added, “Despite our recent promotion and launch of several major new games and the short term pressure on profit margins, the strong performance of our new titles and our (diversified) product line works; we are confident in the company’s long-term performance.
Saint Seiya Online has registered over 10 million concurrent users since the game’s launch in May, and Neverwinter, released in late April, has registered more than 200 million users, according to the company. Perfect World also released Swordsman Online at the end of the period, and the title is expected to push third quarter revenue growth.
