Changyou.com fourth quarter revenues surpass US$70 million
Online game developer and operator Changyou.com Limited (NASDAQ: CYOU) reported record fourth quarter earnings of US$70.7 million and a 33%
increase in full year revenues (year ended 31 December 2009) of
US$267.6 million.
The China based online gaming group reported a
3% quarter-on-quarter increase in revenues, as 21% year-over-year (YoY)
increase in revenues, which was in line with previous guidance from the
company. Net income in the fourth quarter hit $38.9 million, or 73
cents per fully diluted ADS.
From an operational perspective, the Nasdaq listed group
reported an 8% quarter-on-quarter increase in registered accounts to
80.9 million, with aggregate peak concurrent users (PCU) climbing 9% to
0.99 million. Average revenue per active paying account (ARPU) rose 3%
quarter-on-quarter and just 1% year-over-year to RMB196.
For the full year, the company reported at 33% increase in
revenues to US$267.6 million, a 34% increase in net income to US$144.7
million ($2.81 per fully diluted ADS). At the end of December
Changyou.com held a net cash balance of US$226.9 million.
"I am pleased that Changyou has delivered another quarter of
solid results to close out an historic year," said Mr. Tao Wang,
Changyou's chief executive officer. "In 2009, we executed on our
strategies and enhanced our brand value through a successful IPO while
experiencing consistent growth in our existing games, investing in and
strengthening our game pipeline, and making various advances in game
development technologies. Our user-centric development model and
commitment to building our business for the long-term have generated
record performances and have made Changyou one of the leaders in
China's online gaming industry."
Mr. Wang continued, "Throughout 2010, in addition to releasing
new game content, we have several pipeline games slated for release
that we expect will further diversify our game roster and attract new
users by appealing to a variety of gamers. We believe that our pipeline
games and new technologies will firmly establish Changyou in new market
sub-segments and serve as catalysts for growth."
For the first quarter of the new financial year, Chanyou is expecting total revenues between US$70-$73 million.
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