The9 Q4 Net Profit Down 48% YoY
The9 Press Release, 2/23/09
Chinese online game developer and operator The9 (Nasdaq: NCTY) has issued its earnings report for Q4 2008, with net revenues reaching RMB 405.1 mln (USD 59.4 mln), down 4% year-on-year and 1% quarter-on-quarter. 2008 full-year net revenues rose to RMB 1.71 bln (USD 250.4 mln), an increase of 33% over the 2007 figure.
Net income for the quarter came to RMB 44.4 mln (USD 6.5 mln), down 48% YoY and 55% QoQ. Net income for fiscal year 2008 increased 45% to RMB 348.3 mln (USD 51.1 mln).
During the quarter, net revenues attributable to the operations of time-based games, which included revenues from game playing time, merchandise and installation package sales, were RMB 380.0 mln (USD 55.7 mln), representing a 2% QoQ increase but a 2% YoY decrease. For the full year, net revenues were RMB 1.56 bln (USD 229.0 mln), representing a 33% YoY increase.
Quarterly net revenues attributable to the operations of item-based games, which included revenues from item sales and installation package sales, were RMB 23.6 mln (USD 3.5 mln), down 29% QoQ and 40% YoY. For the full year, net revenues were RMB 141.2 mln (USD 20.7 mln), up 60% YoY.
To view The9's full earnings report, please click here.
Keywords: Internet NCTY profit Q4 2008 The9 fiscal report online gaming revenue free-to-play pay-to-play
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