WASHINGTON (dpa-AFX) - Giant Interactive Group Inc. (GA) reported that its second-quarter net income attributable to the Company's shareholders was RMB307.2 million or US$48.4 million, up from RMB10.2 million in the second quarter 2011. Earnings per American Depositary Share or ADS were RMB1.26 or US$0.20, compared to earnings per ADS of RMB0.04 in the year ago quarter.
Non-GAAP earnings per ADS for the quarter were RMB1.40 or US$0.22, compared to earnings per ADS of RMB1.17 for the second quarter 2011.
Net income attributable to the Company's shareholders increased primarily due to the growth of game operations as well as a one-time withholding tax accrued in the second quarter 2011 in connection with the repatriation of cash for a special cash dividend paid during the third quarter 2011.
Net revenue for the second quarter 2012 was RMB528.2 million or US$83.1 million, representing a 21.1% increase from RMB436.2 million in the second quarter 2011.
Analysts polled by Thomson Reuters expected the company to report earnings of US$0.17 per share on revenues of US$83.30 million for the quarter. Analysts' estimates typically exclude special items.
The company expects sequential growth to be flat to moderate in the third quarter. Analysts expect the company to report earnings of US$0.18 per share on revenues of US$87.20 million for the third-quarterquarter.
Copyright RTT News/dpa-AFX
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