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CDC Corp. Books $11.88M Loss In Q1
CDC Corporation, CDC Games, CDC Software, CHINA, China.com, Internet, gaming, online game, software
Posted by: Megan Ko on May 22, 2008 | 08:05
Editorial Summary
CDC Corporation (Nasdaq: CHINA) announced first quarter total revenues from continuing operations of $98.3 million, up 12 percent year-on-year, after market close on Wednesday. CDC reported a $11.88 million net loss for the period, compared to profit of $1.4 million a year ago.
CDC Software revenues were up 15 percent year-on-year to $87.3 million, while CDC Games generated revenue of $8.7 million, up 10 percent sequentially. CDC’s China.com portal recorded revenue of $2.2 million up 9 percent annually.
During the quarter, CDC Games laid off 150 employees. The company is working towards establishing a single online game publishing platform and universal game card to cater to its 140 million registered China gamers. CDC Games maintains its revenue outlook of $11-12 million for the second quarter.
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