Changyou Slips To Loss In Q3

(RTTNews) - Changyou.com Limited (CYOU), a online game developer and operator in China, reported that its net loss attributable to Changyou.com Limited for the third-quarter was US$7 million, compared with net income of US$39 million in the third quarter of 2016. Net loss attributable to Changyou.com Limited per ADS was US$0.13, compared with net income of US$0.73 in the third quarter of 2016.

Non-GAAP net loss attributable to Changyou.com Limited was US$5 million, compared with net income of US$46 million in the third quarter of 2016.

Total revenue was US$166 million, representing an increase of 22% year-over-year.

Online game revenue was US$132 million, representing an increase of 34% year-over-year. The year-over-year increases were mainly due to the revenue contribution of Legacy TLBB Mobile, which was launched in the second quarter of 2017. Analysts polled by Thomson Reuters expected the company to report earnings of $ 1.11 per share and revenues of $171.91 million. Analysts' estimates typically exclude special items.

For the fourth quarter of 2017, Changyou expects total revenue to be between US$145 million and US$155 million, including online game revenue of US$110 million to US$120 million; Non-GAAP net income attributable to Chanyou.com Limited to be between US$35 million and US$40 million, and non-GAAP income per fully-diluted ADS to be between US$0.66 and US$0.76. GAAP net income attributable to Changyou.com to be between US$33 million and US$38 million, and GAAP income per ADS to be between US$0.63 and US$0.72.

Analysts expect the company to report earnings of $1.07 per share for the fourth-quarter.