Changyou.com Turns To Profit In Q1 - Quick Facts

(RTTNews) - Changyou.com Limited (CYOU), online game developer and operator in China, reported that its net income attributable to the company for the first quarter ended March 31, 2015 was US$48 million, compared a net loss of US$19 million in the first quarter of 2014. Net income per ADS was US$0.91, compared with net loss of US$0.37 last year.

Non-GAAP net income attributable to the company was US$52 million, versus a net loss of US$19 million in the previous year. Non-GAAP net income attributable to the company per ADS was US$0.97, compared to non-GAAP loss of US$0.36 in the first quarter of 2014.

Total revenues for the quarter were US$209 million, representing an increase of 15% year-over-year.

Online game revenues were US$185 million, representing an increase of 13% year-over-year. The year-over-year increase was mainly due to the launch of TLBB 3D in the fourth quarter of 2014.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share and revenues of $200.12 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter of 2015, Changyou expects non-GAAP net income attributable to the company to be between US$30 million and US$35 million or US$0.56 and US$0.65 per ADS.

Total revenues for the second-quarter is expected to be between US$180 million and US$190 million, including online game revenues of US$155 million to US$165 million.

Analysts expect the company to report earnings of $0.71 per share and revenues of $216.70 million for the second-quarter.