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Shanda Q2 2011 Profit Down 95% YoY

Shanda, 8/30/11

Chinese online media and game operator Shanda Interactive (Nasdaq: SNDA) today announced its unaudited consolidated financial results for the second quarter ended June 30, 2011. Net revenues were RMB 1.71 bln (USD 264.2 mln), representing an increase of 5% from RMB 1.63 bln in the first quarter of 2011 and an increase of 26% from RMB 1.36 bln in the second quarter of 2010. The quarter-over-quarter increase was primarily driven by an increase in revenues from Chinese online game developer and operator Shanda Games (Nasdaq: GAME) and Shanda Online.

Net income was RMB 8.8 mln (USD 1.4 mln), down 89.7% QoQ compared with RMB 85.5 mln in the first quarter of 2011 and down 94.8% YoY compared to RMB 169.9 mln in the second quarter of 2010.

Shanda Games' revenues, including MMORPGs and advanced casual games, were RMB 1.32 bln (USD 204.0 mln), representing an increase of 5% from RMB 1.25 bln in the first quarter of 2011 and an increase of 19% from RMB 1.11 bln in the second quarter of 2010.

Shanda Online's revenues were RMB 308.0 mln (USD 47.6 mln), representing an increase of 2% from RMB 301.3 mln in the first quarter of 2011 and an increase of 24% from RMB 248.9 mln in the second quarter of 2010.

Other revenues, including Shanda Interactive's (Nasdaq: SNDA) online video subsidiary Ku6 (Nasdaq: KUTV), literature business, social network games, and other businesses were RMB 403.8 mln (USD 62.4 mln), representing a decrease of 1% from RMB 406.6 mln in the first quarter of 2011 and an increase of 53% from RMB 263.3 mln in the second quarter of 2010.

To view Shanda's full earnings report, please click here.

Keywords: Shanda Shanda Games Internet profit online video Ku6 SNDA Shanda Online KUTV Q2 2011 online gaming GAME revenue fiscal report

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