Perfect World 3Q profit rises on higher sales

AP News
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Posted: Nov 16, 2009 4:49 PM

Online games maker Perfect World Co. said Monday its profit rose 45 percent in the third quarter on higher sales of expansion packs for existing games.

The company, based in Beijing, earned 288.3 million yuan ($42.2 million), or 81 cents per American Depositary Share, in the quarter that ended Sept. 30. Adjusted profit of 86 cents per ADS beat a 75 cent per share estimate of analysts polled by Thomson Reuters.

Revenue grew 55 percent to 590 million yuan ($86.4 million) from 381.8 million yuan.

The company also said that during the quarter it released the first movie produced by subsidiary Beijing Perfect World Cultural Communication Co. It does not expect to release a movie in the fourth quarter.

Shares fell 98 cents to close at $45.37.