The9 Reports Q3 2009 Net Loss of RMB 74 Mln
The9, 11/23/09
Chinese online game operator and developer The9 (Nasdaq: NCTY) has announced its unaudited financial results for Q3 2009, with net revenues reaching RMB 25.5 mln (USD 3.7 mln), down 94% year-on-year and 91% quarter-on-quarter. The decrease was primarily due to decreased revenue from The9's loss of World of Warcraft, its license to which expired on June 7, 2009.
Net loss for the third quarter came to RMB 73.6 mln (USD 10.8 mln), compared with net income of RMB 80.5 mln (USD 11.8 mln) in the same period of last year and a 7% decrease from net loss of RMB 79.2 mln (USD 11.6 mln) in the first quarter. The net loss was offset by a one-time government subsidy of RMB 54.2 mln (USD 7.9 mln) provided to The9 in the third quarter.
No revenue was generated from WoW during the third quarter. Net revenues attributable to the operations of non-WoW games increased by 55% quarter-over-quarter. The sequential increase was mainly due to an increase of revenue from licensed MMORPG Soul of the Ultimate Nation after the launch of a new content upgrade and a theft-proof security system, as well as revenue contribution for a complete quarter from licensed casual soccer game FIFA Online 2, licensed 3D turn-based MMORPG Atlantica and self-developed browser game Dragon Emperor.
Chairman and CEO Zhu Jun said that The9's revenue loss "cannot be recovered within a short period of time."
Keywords: licensed game 9zwar Atlantica browser game FIFA Online 2 Soul of the Ultimate Nation The9 WoW Internet loss revenue Q3 2009 MMORPG NCTY profit self-developed game online gaming 3D game fiscal report
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