Perfect World Co. Ltd. Earnings: Here’s Why Shares are Up Now
Perfect World Co., Ltd. (NASDAQ:PWRD) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2%.
Perfect World Co., Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 35.29% to $0.33 in the quarter versus EPS of $0.51 in the year-earlier quarter.
Revenue: Rose 8.41% to $115.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Perfect World Co., Ltd. reported adjusted EPS income of $0.33 per share. By that measure, the company beat the mean analyst estimate of $0.30. It beat the average revenue estimate of $109.01 million.
Quoting Management: Mr. Robert Xiao, CEO of Perfect World commented, “We are pleased to announce our results for the second quarter of 2013. Our revenues rose by 13.5% quarter-over-quarter, beating the high end of our expectations. Our strong second quarter performance was mainly driven by the successful launches of two of our new games, namely ‘Saint Seiya Online,’ a 3D comic-based MMORPG launched in China in mid-May, and ‘Neverwinter,’ a widely-acclaimed MMORPG launched in North America and Europe at the end of April. In addition, we also launched a number of web and mobile games during the quarter and are working on more varied titles which will further diversify our deep game pipeline.”
Key Stats (on next page)…