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Technology Stocks : Shanda Interactive Entertainment Ltd. (SNDA) -- Ignore unavailable to you. Want to Upgrade?

To: Gaffer who wrote (16)	8/9/2005 6:32:16 PM
From: Gaffer	Read Replies (1) \| Respond to of 31

chinastockblog.com Tuesday, August 09, 2005 Shanda misses by $0.02, but reports strong online game and ad revenue growth (SNDA 2Q05 earnings results) Shanda Interactive (ticker: SNDA) reported Q2 2005 results that beat consensus revenue estimates but missed diluted EPS estimates by $0.02. Key stats from the quarter: Q2 Results: (all percentage changes and comparisons are year on year, unless stated otherwise) Net revenue rose 88.0% to $65.2 million vs consensus of $61.78 million. Net revenue rose 8.5% sequentially. Online game revenue rose 72.0% to $56.4 million. MMORPG revenue rose 60.3% to $43.7 million. Casual game revenue rose 130.1%, but declined 5.1% sequentially to $12.6 million. Other revenue (online ads, VAS) rose 365.1%, and rose 31.3% sequentially to $8.8 million. Gross margin was 68.4% vs 62.8%, down from 71.0% in Q1. Operating expenses rose 82.8% to $15.1 million. Product development expenses rose 136.8% to $4.7 million. Sales and marketing expenses rose 124.7% to $4.6 million. G&A expenses rose 41.3% to $5.3 million. Operating income rose 118.2%, but declined 4.0% sequentially to $29.5 million. Operating margin was 45.2% vs 38.9%. Net income rose 58.2% to $27.0 million. Net margin was 41.3% vs 49.1%. Diluted EPS of $0.36 vs $0.25, and vs consensus estimate of $0.38. Balance Sheet (as of June 30, 2005) Cash and equivalents of $152.3 million. Marketable securities of $276.8 million. Other Stats Total peak concurrent users for all Shanda games in commercial service rose 19% sequentially to 2.5 million. Average concurrent users of Shanda's MMORPGs in commercial service rose 2.0% sequentially to 763,000. Average revenue per user hour calculated based on net revenues for Shanda's MMORPGs rose 10% sequentially to $0.03. SNDA chart.