A quick look at their very large change in attitude about guidance:- Chinese online game developer Perfect World Co Ltd (PWRD) raised its second-quarter revenue outlook on stronger-than-expected performance of a newly launched game, driving its shares up as much as 12 percent to a new 52-week high.
- The company said it has seen a strong ramp up of 'Battle of the Immortals' -- a 2.5D massively multiplayer online role-playing game that is one of the company's major titles for 2009 -- in the past month. The company said revenue had also been aided by the launch of expansion packs to some of its existing games like 'Zhu Xian' in the second half of the quarter.
- Beijing-based Perfect World expects a sequential revenue growth of 15 percent to 20 percent, compared with its previous forecast of a 2 percent decline to a 2 percent rise. It expects second-quarter revenue of 489 million yuan ($71.5 million) to 510 million yuan ($74.6 million). Analysts expect the company to post revenue of $64 million, according to Reuters Estimates.
- "We are also seeing an encouraging outcome from our diversification strategy as we expand our game portfolio to benefit from multiple growth drivers. We are constantly enhancing our leading technology, which enables us to be more flexible in terms of game development and rolling out the newest expansion packs, so as to conform to customers' changing preferences more efficiently. Going forward, we will continue to allocate more resources to longer-term projects and larger expansion packs to lengthen the growth cycle of our games. In addition, we will further deepen and diversify our pipeline targeting different market segments, and build up a variety of franchises with multiple flagship titles. We remain committed to executing these strategies to drive the strong growth and sustainability of our Company."
[Oct 15, 2008: Perfect World Announces Share Buyback Program]
[Aug 18, 2008: Perfect World Earnings Mostly Inline]
[May 20, 2008: Motley Fool on Chinese Gaming]
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