Changyou Q3 2012 Profit Up 18% YoY
Changyou, 11/05/12
Chinese online game developer and operator Changyou (Nasdaq: CYOU), a subsidiary of Internet portal Sohu (Nasdaq: SOHU), today announced its unaudited financial results for the third quarter ended September 30, 2012. Q3 2012 revenue increased 13% QoQ and 29% YoY to USD 165.8 mln.
Q3 2012 net income attributable to Changyou increased 6% QoQ and 18% YoY to USD 72.9 mln.
Online game revenues, which include revenues from Changyou's game operations and overseas licensing revenues and revenues from 7Road, increased 10% QoQ and 30% YoY to USD 151.1 mln. The QoQ and YoY increases were mainly attributed to the growth of 3D MMORPG Tian Long Ba Bu (TLBB) and fantasy-theme browser game Wartune in China in Q3 2012.
Online advertising revenues, which consist of revenues generated from the 17173 business, increased 40% QoQ and 32% YoY to USD 12.8 mln. The QoQ increase was mainly attributed to the seasonal pickup typical for advertising in China and higher utilization rates of the company's advertising resources in the third quarter of 2012. The YoY increase was mainly attributed to higher advertising prices and higher utilization rates of advertising resources in the third quarter of 2012 than in the third quarter last year.
Other revenues, which consist of cinema advertising revenues, were USD 1.9 mln, an increase of 80% QoQ and a decrease of 40% YoY.
The company's operational results for the third quarter of 2012, which exclude those of 7Road's games, were as follows: aggregate registered accounts for the company's games increased 12% QoQ and 41% YoY to 223.5 mln. Aggregate PCU for the company's games increased 1% QoQ and decreased 5% YoY to 1.09 mln. Aggregate APA for the company's games decreased 8% QoQ and 20% YoY to 2.41 mln. ARPU for the company's games increased 15% QoQ and 46% YoY to RMB 319.
7Road's operational results for the third quarter of 2012 were as follows: Aggregate active accounts for 7Road's games were 66.8 mln, an increase of 23% QoQ and 42% YoY. Aggregate active charging accounts for 7Road's games were 1.66 mln, a decrease of 5% QoQ and 3% YoY. Average revenue recognized per active charging account (ARCA) for 7Road's games was RMB 100 an increase of 61% QoQ and 163% YoY.
For the fourth quarter of 2012, Changyou expects total revenues to be between USD 166.0 mln and USD 170.0 mln, including online game revenues of USD 152.0 mln to USD 155.0 mln and online advertising revenues of USD 12.0 mln to USD 13.0 mln. The company expects Q4 2012 non-GAAP net income attributable to Changyou to be between USD 69.0 mln and USD 71.0 mln.
To view the complete report please see here.
Keywords: Wartune 17173 Changyou Internet profit revenue online advertising CYOU Sohu 7Road Q3 2012 online gaming fiscal report registered users
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