Perfect World shares jump after 1Q results

Tue, 05/18/2010 - 8:30am
The Associated Press

Perfect World Co. shares jumped Tuesday after first-quarter results showed growing demand for the company's video games.

Perfect World, based in Beijing, operates games that run over the Internet. The company said Monday that it earned 305.2 million yuan ($44.7 million), or 5.75 yuan (84 cents) per share, in the three months ended March 31. That's up nearly 42 percent from 215.4 million yuan, or 3.96 yuan per share, a year ago.

Earnings matched the average forecast from analysts, according to Thomson Reuters.

Revenue climbed 47 percent to 625 million yuan ($91.6 million) from 425.1 million yuan. Analysts expected slightly higher revenue of $92.9 million.

U.S.-traded shares rose $2.19, or 8.9 percent, to $26.90 in midday trading. Shares have traded between $17.12 and $50.49 over the past year.


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