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Changyou Lifts Q4 Outlook On Better-than-expected Online Game Business

Chinese online game developer and operator Changyou.com (CYOU) Friday updated its fourth-quarter outlook, citing better than expected performance of its online game business, as well as a tax benefit of $19 million.

For the fourth quarter, the company now expects net income attributable to the company to be between $57 million and $62 million or earnings per ADS between $1.06 and $1.15.

This compares with previous guidance of between $24 million and $29 million or between $0.45 and $0.54 per ADS.

Adjusted attributable net income is now expected to be between $60 million and $65 million or earnings per ADS between $1.07 and $1.16. The company previously expected earnings between $27 million and $32 million, or earnings per ADS between $0.50 and $0.60.

Total revenue is now expected to be between $130 million and $140 million, compared with the previous guidance of $100 million and $110 million.

Online game revenue would be between $125 million to $135 million, compared with the previous guidance of $95 million and $105 million.

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