Perfect World Q2 profit misses Wall Street view
(Reuters) - Chinese online-game developer Perfect World Co Ltd's (PWRD.O) quarterly earnings missed Wall Street estimates, hurt by a three-day suspension of operations related to the Sichuan earthquake and higher expenses.
For the second quarter, the company earned $24.0 million, or 40 cents per American Depository Shares, on revenue of $48.8 million.
Analysts were expecting the company to earn 41 cents a share, on revenue of $49.7 million, according to Reuters Estimates.
Due to the Sichuan suspension, active paying customers -- a key metric for online-gaming companies -- dropped to about 1.5 million in the quarter from 1.7 million in the first quarter.
Average revenue per customer (ARPU), however, rose about 25 percent from the first quarter.
Perfect World, known for its namesake 3D online game, has massively multiplayer online role playing games (MMORPGs) like "Legend of Martial Arts" and "Perfect World II" in its portfolio.
The company has five MMORPGs under development, including two that are expected to be launched by the end of 2008 or early 2009, it said in a statement.
Most Chinese gaming companies have been hit by the national period of mourning for the tens of thousands of victims of the earthquake that struck the Sichuan province of China in May. All public entertainment was suspended during the period.
(Reporting by Saumyadeb Chakrabarty in Bangalore; Editing by Vinu Pilakkott)
