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The9 posts net profit increase of 43% in 2Q |
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Written by Administrator
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Friday, 11 August 2006 |
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BEIJING, August 11 (InfoChina) – The9 Ltd. (Nasdaq:NCTY) posted a net revenue of 257.6 million yuan, up 21% quarter on quarter and 363% year on year, with a net profit of 84.3 million yuan, up 43% quarter on quarter, according to the company’s 2Q unaudited financial report released on August 10.
Excluding the 11.2 million yuan subsidy received from the local government, the company’s net profit is 73.1 million yuan, up 24% year on year.
The greatly hiked profit mainly came from the company’s increased sales of World of Warcraft (WoW) and decreased management cost.
During the quarter, WoW, the company’s hit MMORPG (Massive Multiplayer Operation Role-Player Game) product, brought in a net revenue of 256.2 million yuan, an increase of 22% quarter on quarter, accounting for 99% of the company’s 2Q total revenue.
Over the company’s heartening performance, The9’s ADS gained 3.42 yuan per share in the second quarter as against 2.42 yuan of last quarter.
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China Stock News