Editorial Summary

Shanghai-based online game company Giant Interactive (NYSE: GA) announced first quarter net revenue of $67.3 million, up 48.7 percent year-on-year and 8.5 percent quarter-on-quarter, after market close on Thursday. Net income for the period was $48.3 million, up 36.5 percent from the year-ago period and 1.5 percent from the fourth quarter.

Active paying accounts reached 1,447,000 accounts, up 46.7 percent year-on-year and 3 percent sequentially, while average revenue per user (ARPU) was up 1.7 percent yearly and 5.3 percent quarterly to RMB 325.1. Average and peak concurrent users for online games were 546,000 and 1,646,000, respectively, marking respective quarterly increases of 6.8 and 67.4 percent.

Giant plans to begin closed beta testing of 3D medieval magical MMORPG King of Kings III in the fourth quarter of 2008, and begin open beta testing of the game in early 2009. The company's licensed 3D MMORPG Empire of Sports is scheduled for launch in the second half of 2008. Giant expects total net revenues between RMB 495 million and RMB 505 million for the second quarter of 2008.