Online Games Update For December (GAME, SNDA, GA)

Oppenheimer has released its update for the online gaming industry for the month of December.

According to Oppenheimer, the industry had a mixed third quarter. The top performers were Shanda Games Limited (ADR) (NASDAQ: GAME) which was up 6% and Shanda Interactive Entertainment Ltd (ADR) (NASDAQ: SNDA) which was up 8%. Both companies reported a strong third quarter and better than expected outlook for the fourth quarter.

Meanwhile, The9 Limited (ADR) (NASDAQ: NCTY), Giant Interactive Group Inc. (NYSE: GA) and NetEase.com Inc. (ADR) (NASDAQ: NTES) reported lower than expected third quarter results. The shares of the three companies posted an average 6% decline.