Shanda Games Ltd. (GAME) Wednesday reported first-quarter profit of 244.9 million Chinese yuans or 0.90 yuan per ADS, up from 214.3 million yuans or 1.20 yuan per ADS last year. In U.S dollars, earnings were $39.1 million or $0.14 per share.
Adjusted earnings for the quarter was 275.2 million yuans or $43.9 million. On a per-share basis, adjusted earnings were 1.02 yuan per ADS, or $0.16 per share.
On average, six analysts polled by Thomson Reuters expected the company to earn $0.15 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues dropped to 1.08 billion yuans, or $173.0 million, from 1.39 billion last year. Analysts expected revenues of $173.72 million.
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