Perfect World Q2 results show revenue and profit growth
Chinese MMO publisher and developer continues to perform, confirms expansion plans
The Chinese MMO developer and publisher Perfect World has posted second fiscal quarter results showing an increase in both revenue and profits.
Total revenue was RMB779.6 million ($120.6m); up from RMB718.5 million in Q1, and RMB 592.5 million ($92.6m) from the same quarter last year.
Net profit also showed significant year-on-year gains, increasing from RMB196.6 million ($30.7m) in Q2 2010 to RMB316.6 million ($49.0m) this year.
"The revenue growth was mainly due to solid performance of the recently launched new games, including Forsaken World and Empire of the Immortals, and the continued strength from our existing portfolio," said chairman and CEO Michael Chi in an earnings call. "In addition, we also showed strong growth in our overseas operations."
The company currently has "over a dozen" games in development, and recently launched unlimited closed beta testing for the 2D martial-arts MMORPG Heaven Sword and Dragon Saber.
"The number of Internet users in China is growing fast each year and there is a greater possibility that the online gamer population in China will also grow rapidly," Chi added.
"At the same time, we believe the growth potential of the online gamer population in the traditional large gaming markets like the US, Europe and Japan creates new opportunities."
The company is in the process of growing its business beyond China, acquiring a majority stake in Runic Games last year, and completing the acquisition of Cryptic Studios earlier this month.
It intends to launch Cryptic's Neverwinter and Runic's Torchlight MMORPG in "late 2012 or early 2013."