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The9 Q2 Profits Up 129%

The9 Press Release, 8/08/08

Chinese online game operator and developer The9 (Nasdaq: NCTY) has announced its unaudited financial results for Q2 2008, with net revenues reaching RMB 455.1 mln (USD 70.0 mln), up 69% year-on-year and 4% quarter-on-quarter.

Net income for the quarter came to RMB 115.9 mln (USD 16.9 million), up 129% YoY and 29% QoQ.

During the quarter, net revenues attributable to the operations of subscription-based games, including revenues from game playing time, merchandise and installation package sales, increased by 6% QoQ and 69% YoY to RMB 416.3 million (USD 60.7 mln).

Net revenues attributable to the operations of item-sales based games, which included revenues from in-game item sales and installation package sales, decreased by 18% quarter-on-quarter but increased by 134% year-on-year to RMB 38.0 mln (USD 5.5 mln)

Q2 aggregate peak concurrent users ("PCU") were approximately 1.3 million for games currently in commercial operation, with World of Warcraft's PCU alone surpassing 1 mln. As of June 30, 2008, The9 had over 41.5 mln total registered users.

To see The9's full earnings report, please click here.

Keywords: Internet NCTY PCU Q2 2008 registered users The9 fiscal report online gaming virtual items WoW

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