Perfect World Co., Ltd (PWRD) shares continue to climb as the company reported yet another earnings surprise.
Profits Surge 55%
On Aug 10 Perfect World announced second-quarter results that included revenue of over $76 million. That level is up 56% on a year-over-year basis. Profits grew proportionally to $66.5 million.
Earnings per share came in at 78 cents, 28% higher than the Zacks Consensus Estimate of 61 cents.
Michael Chi, Chairman and CEO, said “Our strong results were primarily driven by better than anticipated performance of our newly launched 2.5D mysterious adventure MMORPG `Battle of the Immortals’ and increasingly optimistic results from a number of our existing games.”
Estimates Spike
The Zacks Consensus Estimate for full-year 2009 is now $2.79, up from $2.49 after 10 of 12 analysts raised estimates. Next year’s forecasts are averaging $3.31, up from $2.87.
These figures will yield annual growth rates of 56% and 19%, respectively.
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