Perfect World Reports Q1 Earnings

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Perfect World
PWRD
on Monday reported its first quarter earnings. The gaming company reported first quarter earnings per share of $0.70 versus $0.53 (estimate). Earnings per share were up 63 percent from the same quarter last year. Additionally, the company posted revenue of $143.30 million versus the $140.70 million estimates. Sales were up 43 percent year-over-year. CEO Robert Xiao commented, "We are pleased to announce our first quarter results. Our total revenues came in line with the high end of our expectations, which was slightly softer than the strong fourth quarter of 2013. In the first quarter of 2014, we decelerated promotional activities for our client-based MMORPGs and remained focused on content development of our portfolio and pipeline. However, we are pleased with the continued growth and meaningful revenue contribution of our mobile games in the quarter. "The performance of our eye-catching RPG mobile game, 'Return of the Condor Heroes,' remained strong and we continued to expand our portfolio of mobile games by launching our first 3D RPG mobile game 'Fantasy of the Immortals' earlier this year. "Looking forward, we will remain committed to bolstering our competitive edge based on our diversified portfolio, extensive global operating network and solid global R&D capabilities as we look to sustain the long-term growth of our business." Share are currently down about 6.4 percent at $17.13 in Tuesday's trading.
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Posted In: Earnings
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