Pursuits
Shanda Quarterly Profit Rises 41% on Web-Game Sales
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Shanda Interactive Entertainment Ltd., China’s biggest online-games provider, posted a 41 percent gain in third-quarter profit that beat analysts’ estimates after it won users by adding new monsters and spells to its Web titles.
Net income rose to 337 million yuan ($49 million), or 4.62 yuan per American depositary receipt, from 238.9 million yuan, or 3.26 yuan, a year earlier, the Shanghai-based company said today. That’s more than 311 million yuan, the highest of three analyst estimates compiled by Bloomberg. Sales increased 43 percent to 936.5 million yuan.