Editorial Summary

Chinese online game operator The9 Limited (Nasdaq: NCTY) announced first quarter net revenues of $62.7 million, up 4 percent quarter-on-quarter and 63 percent year-on-year, after market close on Monday. The9 recorded net income of $12.8 million, up 4 percent from the last quarter and 36 percent year-on-year. Revenue from subscription-based games came in at $56 million, an increase of 1 percent from last quarter and 47 percent year-on-year, while revenue from item-based games increased 17 percent quarter-on-quarter to $6.6 million. The company recorded aggregate peak concurrent users (PCU) of approximately 1.2 million users in the quarter from its more than 38.1 million registered users.