Changyou.com Limited (NASDAQ:CYOU) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Changyou.com Limited Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 18.85% to $1.45 in the quarter versus EPS of $1.22 in the year-earlier quarter.
Revenue: Rose 29.85% to $177.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Changyou.com Limited reported adjusted EPS income of $1.45 per share. By that measure, the company beat the mean analyst estimate of $1.42. It beat the average revenue estimate of $172.73 million.
Quoting Management: Dr. Charles Zhang, Chairman and CEO of Sohu.com Inc. commented, “I am pleased to report our Group’s three key properties, namely online media, including portal and online video, Sogou and Changyou are all making strong starts into 2013. For the first quarter, the Group revenues were up 36% year-on-year, exceeding our expectations. By business unit, online video, delivered double digit sequential revenue growth in a typical slowest quarter of the year. Sogou business was solid as its core products continued to gain user traction. Changyou set new records for both top-line and bottom-line, driven by decent performance of its MMO and web games.”
Key Stats (on next page)…