China-based online dev announces $119mil sales

China-based online dev announces $119mil sales
Craig Chapple

By Craig Chapple

November 1st 2011 at 3:19PM

Figures better than expected by industry analysts

China-based online developer Changyou has seen its revenue for the last financial quarter grow 39 per cent to $119 million since a year ago, the studio has announced.

This figure was up $2 million from what the multimedia company said analysts had expected.

Net income for the developer also rose 16.6 per since last year to $52.8 million.

“We believe these results once again demonstrate our ability to understand and fulfill gamers’ needs and showcase our content development and game operation strengths,” said Changyou chief exec Tao Wang.

“We anticipate bringing a greater variety of games to market in the following quarter and next year to further advance our leading position in the online game industry.”

Changyou has developed free-to-play MMORPGs such as Duke of Mount Deer and Tian Long Ba Bu, which in 2009 was named amongst the world’s top five most profitable games franchises by Forbes.