WASHINGTON (dpa-AFX) - Giant Interactive Group Inc. (GA) reported that its first-quarter net income attributable to shareholders was RMB292.2 million or US$46.4 million, a 11.5% increase from RMB262.1 million in the same quarter last year.
Net income increased on a year-over-year quarterly basis due to continued revenue growth while effectively controlling operational costs and a lower income tax expense.
Earnings per American Depositary Share or ADS were RMB1.22 or US$0.19, compared to earnings per ADS of RMB1.12 for the first quarter 2011.
Non-GAAP earnings per ADS were RMB1.34 or US$0.21, compared to RMB1.15 in the same quarter last year.
Net revenue for the first quarter 2012 was RMB508.8 million or US$80.8 million, a 26.2% increase from RMB403.3 million in the first quarter 2011.
Analysts polled by Thomson Reuters expected the company to report earnings of US$0.17 per share on revenues of US$79.84 million for the quarter. Analysts' estimates typically exclude special items.
For the second quarter 2012, the company expects continued top-line growth which will mainly come from the contribution from ZT Online 2.
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