Sep. 6, 2013, 1:38 PM
- The9 shares (NCTY -9.8%) fall after the company reports Q1 and Q2 results. Q1 revenue grew 7% Q/Q to $3.2M (RMB19.9M); Q2 revenue jumped 32% Q/Q to $4.3M (RMB26.2M).
- EPS in Q1 was -$0.78 (RMB4.79); Q2 EPS was -$1.20 (RMB7.34). The9 recognized a $5.3M ($0.33/share) impairment on investments in several early-stage companies during Q2.
- CEO Jun Zhu: "net losses ... in part reflected our ongoing investments related to the development and upcoming launch of our widely anticipated new games, Firefall and Qiji2. ... We have great expectation for these two games on which we have invested more than $100 million in the past three years." Launches are slated for 2H. (PR)
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