Giant Q1 2009 Profits Down 32%
PR Newswire, 5/26/09
Chinese online game developer and operator Giant Interactive (NYSE: GA) has announced its unaudited financial results for Q1 2009, with net revenues reaching RMB 373.5 mln, down 20.8% year-on-year, but up 5.8% quarter-on-quarter.
Net income for the quarter came to RMB 231.9 mln, down 31.5% YoY and 20.1% QoQ.
- Active Paying Accounts ("APA") for online games in Q1 2009 reached 1.236 mln, down 4.2% from Q4 2008 and down 14.5% from Q1 2008.
- Average Revenue Per User ("ARPU") for online games was RMB 299.7, up 9.9% from Q4 2008, but down 7.8% from Q1 2008.
- Average Concurrent Users ("ACU") for online games was 531,000, down 4.4% from Q4 2008 and down 2.8% from Q1 2008.
- Peak Concurrent Users ("PCU") for online games was 1.572 mln, up 4.4% from Q4 2008, but down 4.5% from Q1 2008.
Commenting on the first quarter 2009 results, Giant Chairman and CEO Shi Yuzhu, explained that in the first two quarters of 2009, the company focused most of its efforts on product development, rather than on sales and marketing campaigns. As a result, it plans to launch the largest expansion pack to date for ZT Online in July 2009.
Giant Interactive currently has seven games under development. King of Kings III underwent limited closed beta testing during the first quarter, ZT Online II is scheduled for the second half of 2009, and the company's R&D staff continues to improve and upgrade Giant Online, with the official version currently under engineering testing.
Giant has set Q2 2009 guidance for total net revenue in the range of RMB 343 mln to RMB 373 mln.
To see Giant Interactive's full earnings report, please click GIANT INTERACTIVE ANNOUNCES FIRST QUARTER 2009 RESULTS.
Keywords: ACU APA ARPU closed beta expansion pack GA Giant Giant Interactive guidance Internet King of Kings III PCU Q1 2009 revenue Shi Yuzhu ZT Online ZT Online II fiscal report online gaming profit
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