Changyou.com Limited (NASDAQ:CYOU) reported higher profit for the third quarter as revenue showed growth. Changyou.com is an online game developer and operator in China.
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Changyou.com Limited Earnings Cheat Sheet
Results: Net income for Changyou.com Limited rose to $72.9 million ($1.37 per share) vs. $61.9 million ($1.16 per share) in the same quarter a year earlier. This marks a rise of 17.8% from the year-earlier quarter.
Revenue: Rose 28.8% to $165.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Changyou.com Limited beat the mean analyst estimate of $1.32 per share. It beat the average revenue estimate of $132.1 million.
Quoting Management: Mr. Tao Wang, Changyou’s chief executive officer, commented, “The third quarter is a testimony to our corporate philosophy of putting our customers first. Our key operational metrics and financial results demonstrate that we have a solid base of players who are engaged and willing to spend in our games as we continue to invest the resources to keep them fresh and exciting.”
The company has now topped analyst estimates for the last four quarters. It beat the mark by 23 cents in the second quarter, by 12 cents in the first quarter, and by 23 cents in the fourth quarter of the last fiscal year.
Looking Forward: For next quarter, analysts have a more positive outlook about the company’s expected results. The average estimate for the fourth quarter is $1.30 per share, up from $1.19 ninety days ago. Over the past three months, the average estimate for the fiscal year has climbed from $4.69 per to share to $5.03.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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