Shanda Games Q1 2010 Profit Up 7% YoY
Shanda Games, 6/01/10
Chinese game developer and operator Shanda Games (Nasdaq: GAME) today announced its unaudited consolidated financial results for the first quarter ended March 31, 2010.
In Q1 2010, Shanda Games reported net revenues of RMB 1.1432 bln (USD 167.5 mln), representing an increase of 10% from RMB 1.04 bln in Q1 2009 and a decrease of 14% from RMB 1.3362 bln in Q4 2009. Revenues from MMORPGs and advanced casual games accounted for 90% and 8% of total net revenues, respectively. Other revenues accounted for 2% of total net revenues.
Net revenues from MMORPGs were RMB 1.0229 bln (USD 149.9 mln), representing an increase of 8% from RMB 946.8 mln in Q1 2009 and a decrease of 19% from RMB 1.2702 bln in Q4 2009. APA for MMORPGs increased 2% quarter-over-quarter to 9.62 mln in the first quarter of 2010, and, as a result, ARPU for MMORPGs decreased 21% sequentially to RMB 35.4. The sequential decrease in MMORPG revenues was primarily due to the launch of an expansion pack in Mir 2 in late 2009 that was not well-received by users.
Net revenues from advanced casual games were RMB 93.5 mln (USD 13.7 mln), representing increases of 7% from RMB 87.6 mln in Q1 2009 and 48% from RMB 63.3 mln in Q4 2009. The quarter-over-quarter increase was primarily due to a stronger seasonality for advanced casual games in the first quarter, as well as the launch of large expansion packs for two of Shanda Games' major advanced casual games. As a result, APA for advanced casual games increased 6% sequentially to 1.07 mln, and ARPU increased 39% sequentially to RMB 29.0.
Other revenues in Q1 2010 were RMB 26.8 mln (USD 3.9 mln), compared with RMB 5.6 mln in Q1 2009 and RMB 2.7 mln in Q4 2009. The year-over-year and quarter-over-quarter increase in other revenues was mainly due to the acquisition of Mochi Media in Q1 2010.
Net income for Q1 2010 was RMB 329.0 mln (USD 48.2 mln), an increase of 7% from RMB 308.0 mln in Q1 2009 and a decrease of 21% from RMB 415.2 mln in Q4 2009.
For Shanda Games's full report, please click here.
Keywords: online gaming Shanda Games ARPU Internet profit APA Q1 2010 Mochi Media GAME revenue fiscal report
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