10 Aug 2010 09:48

CORRECTION: Giant Interactive scores net profit of $27.4 million in Q2

Editor's note: In an earlier version of this story, the revenue and not the profit figure was indicated in the headline. The net profit figure is correct in this version of the story. - DL

Shanghai. August 10. INTERFAX-CHINA - Nasdaq-listed Giant Interactive Group Inc., a leading domestic online games developer and operator, recorded a net profit of $27.4 million in the second quarter of 2010, representing a quarter-on-quarter increase of 0.4 percent and a year-on-year decrease of 19.8 percent, according to the company's unaudited financial results released on Aug. 10.

According to the announcement, Giant Interactive generated net revenue of $47.4 million, up 5.7 percent quarter-on-quarter but down 11.7 percent year-on-year, the announcement said.

The vast majority of the revenue came from online games which generated $46.3 million in the second quarter, representing a quarter-on-quarter increase of 6.4 percent but a year-on-year decrease of 13.1 percent, according to the announcement.

Giant Interactive accounted for 4.3 percent of China's online game market in the second quarter, making it the sixth largest online games company in China as of the end of June 2010, according to domestic market research firm iResearch.