Perfect World higher 2Q earnings, revenue

SAN FRANCISCO (AP) ? Chinese online game developer Perfect World Co. said Monday that its second-quarter net income grew, handily surpassing Wall Street’s expectations thanks to solid performance of new games such as “Forsaken World” and “Empire of the Immortals.”

Its shares rose more than 7 percent in after-hours trading.

The company earned 316.6 million yuan ($49 million), or 5.98 yuan (93 cents) per American depositary share in the three months that ended June 30. That’s up 61 percent from 196.6 million yuan a year earlier.

Revenue rose 32 percent to 779.6 million yuan ($120.6 million) from 592.5 million yuan.

Analysts, on average, were expecting earnings of 59 cents per American depositary share on revenue of $108.6 million, according to a poll by FactSet.

Michael Chi, chairman and CEO, said in a statement that Perfect World saw strength in its existing games portfolio and strong growth in its overseas operations.

American depositary shares Perfect World rose $1.41 to $20 in after-hours trading.