Perfect World reports jump in 4th-quarter profit as online game revenue jumps

Perfect World reports jump in 4th-qtr profit

NEW YORK — Perfect World Co. on Monday reported a jump in fourth-quarter earnings, helped by growing revenue from the online games it operates.

The Chinese company’s net income jumped to 270.8 million yuan ($39.7 million), or 5.09 yuan (75 cents) per share, more than double the 124.8 million yuan, or 2.12 yuan per share, it earned in the same period a year earlier. Excluding one-time expenses, Perfect World earned 5.50 yuan (81 cents) per share.

That was just shy of the average forecast from analysts polled by Thomson Reuters, who expected profit of 83 cents per share. Analysts typically exclude unusual items from their estimates.

Revenue climbed nearly 46 percent to 607.9 million yuan ($89.1 million), while analysts expected $88.1 million in revenue.

For the full year, Perfect World’s net income rose 60 percent to 1.04 billion yuan ($152 million), or 19.28 yuan ($2.82) per share, from 646.5 million yuan, or 10.91 yuan per share. Revenue was up 49 percent to 2.14 billion yuan ($314.2 million) from 1.44 billion yuan.

Looking ahead, the company expects revenue for the quarter ending in March to come in between 620 million yuan ($90.8 million) and 644 million yuan ($94.3 million). Analysts expect revenue of $91.1 million.

U.S.-traded shares of Perfect World slid $1.39, or 3.5 percent, to $38 in premarket activity. The stock has ranged from $8.78 to $50.49 over the past year.