SAN FRANCISCO (Thomson Financial) - Shanda Interactive Entertainment Limited late Tuesday reported second-quarter adjusted earnings of $43 million, or 58 cents per American Depositary Share, topping the mean 51-cent estimate of analysts polled by Thomson Reuters.
During the year earlier, adjusted earnings were $37.1 million, or 51 cents per ADS.
The Shanghai, China-based interactive entertainment media company posted net income of $40.8 million, or 56 cents per ADS, compared with $60.9 million, or 83 cents per ADS, last year.
Revenue for the period ended June 30 rose to $122.1 million from $82.6 million a year ago. Analysts were looking for revenue of $115.3 million.
'Shanda delivered significant revenue growth in the second quarter of 2008 despite the impact of the devastating Sichuan earthquake, said Chairman and Chief Executive Tianqiao Chen in a statement. 'Quarterly net revenue grew 7.4% sequentially, which exceeded our previous guidance.'
Shanda's stock finished the regular session down 7 cents at $26.42. Katherine Hunt kh COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.