Changyou.com Q2 Profit Rises, Above Estimates

(RTTNews) - Changyou.com Limited (CYOU), an online game developer and operator in China, Monday reported an increase in net income for the second quarter, reflecting higher revenues, significantly from online game segment. Earnings also surpassed analyst estimates.

Net income attributable to Changyou.com Limited for the three-month period increased to $75.1 million or $1.41 per ADS from $69.03 million or $1.29 per ADS during the same quarter last year.

Non-GAAP earnings per ADS attributable to Changyou.com Limited were $1.41 for the second quarter.

On average, seven analysts polled by Thomson Reuters expected earnings per share of $1.37 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues for the second quarter of 2013 increased 24 percent to $182.4 million from prior year's $147.3 million. Analysts expected the company to generate revenues of $183.35 million.

For the third quarter, the company expects total revenues to be between $180 -$186 million and non-GAAP earnings per ADS to be in the range of $1.33 - $1.38 per share. The Street expects the company to report earnings of $1.48 per share on revenues of $747.41 million for the upcoming quarter.