Nov. 25, 2014, 7:05 PM
- Perfect World (NASDAQ:PWRD) expects Q4 revenue of RMB1.023B-RMB1.072B ($166.6M-$174.6M), in-line with a $171.9M consensus.
- Thanks to the strong performance of mobile games such as CrossGate Mobile and Forsaken World, online game revenue rose 23% Y/Y to $149.8M. However, average concurrent users for PC games fell to 623K from 778K. Licensing revenue fell 1% to $6.3M.
- Gross margin fell to 69% from 73.1% in Q2 and 77.8% a year ago. Opex rose 33% Y/Y (exceeding revenue growth of 17%) to $113.3M.
- Q3 results, PR
Nov. 25, 2014, 5:04 PM
Nov. 24, 2014, 5:35 PM
Aug. 19, 2014, 2:43 PM
- In addition to posting nearly in-line Q2 revenue (while beating on EPS), Perfect World (NASDAQ:PWRD) has guided for Q3 revenue of RMB956M-RMB1.003B ($155.4M-$163.1M), in-line with a $159.9M consensus.
- However, the company's PC gaming base remains under pressure: Average concurrent PC users for games under operation in mainland China totaled 661K in Q2, down from 662K in Q1 and 742K a year ago. Perfect World is counting on mobile titles such as MMORPG Forsaken World and cartoon-style RPG CrossGate Mobile to boost growth.
- Nonetheless, online gaming revenue rose 32% Y/Y to $138.8M, and licensing revenue 55% to $7.9M. The strong performance of major PC games such as Swordsman Online and DOTA2 contributed to the growth.
- Gross margin fell to 73.1% from 73.6% in Q1 and 76.5% a year ago. Opex rose 19% Y/Y to $88.7M, thanks in part to a 31% increase in R&D spend to $41.9M.
- Q2 results, PR
Aug. 18, 2014, 5:06 PM
Aug. 17, 2014, 5:35 PM
May 19, 2014, 5:58 PM
- Perfect World (PWRD) expects Q2 revenue of RMB891M-RMB936M ($142.7M-$150M) vs. a $148.2M consensus.
- Revenue rose 42.5% Y/Y in Q1, but also fell 2.5% Q/Q, thanks in part to lower promotional spend for MMORPG titles. Average concurrent PC users fell 18% Q/Q to 662K, something attributed to anti-cheating efforts and seasonality. Mobile gaming growth partly offset the decline.
- Gross margin fell to 73.6% from 75.1% in Q4 and 77.8% a year ago. Opex rose 41% Y/Y to $77M.
- PWRD +0.3% AH. Q1 results, PR.
May 19, 2014, 5:06 PM
May 18, 2014, 5:35 PM
Mar. 10, 2014, 5:07 PM
Mar. 10, 2014, 12:10 AM
Mar. 9, 2014, 5:35 PM
Feb. 28, 2014, 2:16 PM
- Over the last 48 hours, Baidu, Dangdang, Youku, and 58.com have all posted Q4 beats and provided strong Q1 guidance. The numbers are giving a lift to a slew of Chinese Internet stocks.
- Notable gainers: SOHU +6.5%. PWRD +13.2%. VIPS +4.3%. YY +2.2%. RENN +3.8%. GOMO +5.5%.
- In Sohu's case, the rumor mill might also be helping out. A source tells Marbridge Consulting Sohu CEO Charles Zhang and Tencent (TCEHY +1.2%) CEO Pony Ma have talked about merging their companies' online video units. Both Sohu and Tencent trail market leaders Youku and Baidu in China's burgeoning online video market.
- Dangdang (DANG +8.6%) is adding to yesterday's big post-earnings gains after Oppenheimer hiked its PT to $15. The firm likes Dangdang's improved efficiency and partnerships with e-commerce rivals (inc. Alibaba's Tmall), and the fact mobile accounted for 13% of Q4 orders.
Nov. 25, 2013, 6:39 PM
- Perfect World (PWRD) expects Q4 revenue of RMB850M-892M ($139.6M-$146.5M), above a consensus of $137.3M.
- The company attributes its Q3 beat to the strong performance of new titles, including Swordsman Online and Saint Seiya Online. Average concurrent users for Chinese games rose to 778K from 742K in Q2 and 601K in the year-ago period.
- Going forward, Perfect World is counting on the launch of DOTA2, as well as a Chinese version of U.S./European title Neverwinter, to maintain its momentum.
- Sales/marketing spend rose 10% Q/Q and 21% Y/Y to $34.9M. The Y/Y rate is well below the 102% clip Perfect World reported for Q2, much to the concern of investors. R&D spend rose 19% Q/Q and 20% Y/Y to $38.8M. Gross margin was76.7%, up from 75.5% in Q2 but down from 81.5% a year ago.
- PWRD +8.4% AH. Q3 results, PR.
Nov. 25, 2013, 4:49 PM
Nov. 25, 2013, 12:10 AM
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