Shanda Games Ltd Earnings Cheat Sheet: Profit Rises Year Over Year

Shanda Games Ltd (NASDAQ:GAME) reported net income above Wall Street’s expectations for the second quarter. Shanda Games Ltd. is an online game company in China in terms of the size and diversity of its game portfolio.

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Shanda Games Earnings Cheat Sheet for the Second Quarter

Results: Net income for Shanda Games Ltd rose to $47.2 million (17 cents per share) vs. a similar figure in the same quarter a year earlier.

Revenue: Rose 19% to $204 million from the year earlier quarter.

Actual vs. Wall St. Expectations: GAME beat the mean analyst estimate of 18 cents per share. Analysts were expecting revenue of $201 million.

Quoting Management: “We are pleased to report solid results for the second quarter of 2011,” said Mr. Alan Tan, Chairman and CEO of Shanda Games. “Our growth was fueled by the steady performance from our legacy games Mir II and Woool which continue to attract users with the recent launches of new expansion packs and by the newly released Legend of Immortals, which has gained significant traction. Our revenues look to be increasingly driven by our diverse portfolio of marquee games as we further enhance in-game content, launch new pipeline games and facilitate better social interaction.”

Key Stats:

The company has now topped analyst estimates for the last three quarters. It beat the mark by one cent in the first quarter and by 3 cents in the fourth quarter of the last fiscal year.

Competitors to Watch: Limited (NASDAQ:CYOU), KONAMI CORPORATION (NYSE:KNM), The9 Limited (NASDAQ:NCTY), Activision (NASDAQ:ATVI), Electronic Arts (NASDAQ:ERTS), Majesco Entertainment (NASDAQ:COOL), Glu Mobile Inc. (NASDAQ:GLUU), and THQ Inc. (NASDAQ:THQI).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)