Online Gaming Profit Climbs For The9

Jun Zhu, chairman and CEO of The9 said in a prepared statement, ‘In the first quarter of 2008, we attained aggregate peak concurrent users of approximately 1.2 million for games that are currently in commercial operations, and as of March 31, 2008, we had over 38.1 million total registered users.’

Net revenues attributable to the operations of subscription-based games, which included revenues from game playing time, merchandise and installation package sales, increased by 1% quarter-over-quarter and by 47% year-over-year to RMB392.4 million in the first quarter of 2008. Net income for the first quarter of 2008 was RMB89.7 million, a 4% increase from RMB86.0 million in the fourth quarter of 2007, and a 36% increase from RMB66.1 million in the first quarter of 2007.

As at March 31, 2008, The9′s total cash and cash equivalents balance was RMB1.78 billion, compared to RMB2.2 billion as of December 31, 2007.

Source : Chinatechnews

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