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Shanda Q3 Earnings Up 66% YoY
Chinese online game operator Shanda (Nasdaq: SNDA) announced 2007 third quarter financial results after market close on Tuesday. Total revenues were up 16.3 percent percent quarter-on-quarter and 50.3 percent year-on-year to US$87.4 million. Revenue from online games, including MMORPGs and casual games, was $84.4 million, up 16.6 percent quarter-on-quarter and 54.9 percent year-on-year. Shanda's average monthly revenue per active paying account for MMORPGs was up three percent quarter-on-quarter to 59.7 Yuan. Active paying accounts for MMORPGs was up 13.2 percent from the previous quarter to 3.08 million. Shanda's net income of $31.8 million for the third quarter was flat compared to second quarter earnings excluding gains from the disposal of Sina shares. Net income was up 66 percent year-on-year.
Shanda also announced the appointment of Grace Wu as CFO on Tuesday. Wu joined Shanda in October as vice president of strategic investments.
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