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Chinese online gaming firm Shanda Interactive Entertainment Limited announced its unaudited consolidated financial results for the third quarter ended September 30, 2009, and showed consolidated net revenues increased 48% year-over-year and 12% quarter-over-quarter to CNY1.38 billion.
"Shanda achieved record high revenue during the third quarter of 2009," said Chen Tianqiao, chairman and CEO of Shanda. "Shanda just celebrated its 10-year anniversary last week on November 28th. Over the past decade, a powerful combination of the Internet, new technology, and our proprietary content has made Shanda into an engine of cultural creativity. It has been Shanda's long-term vision to build up a leading role in the interactive entertainment industry."
As a breakdown of its subsidiaries, Shanda Games' revenues increased 45% year-over-year and 10% quarter-over-quarter to CNY1.27 billion. Shanda Online's revenues increased 38% year-over-year and 9% quarter-over-quarter to CNY283.3 million. Other revenues increased 43% year-over-year and 24% quarter-over-quarter to CNY133.0 million.
Consolidated gross profit for the third quarter of 2009 was CNY983.4 million, representing a 44% increase from CNY683.5 million in the third quarter of 2008 and a 9% increase from CNY899.0 million in the second quarter of 2009. Operating income for the third quarter of 2009 was CNY510.7 million, an increase of 34% from CNY381.5 million in the third quarter of 2008 and a decrease of 1% from CNY513.4 million in the second quarter of 2009.
On December 1, 2009, Shanda Online also announced the appointment of Dr. Jing Zhu, formerly working at Yahoo, as its chief technology officer.
Source: China Tech News
Written on Wednesday, 02 December 2009 23:37 by Matt McDougall
