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To: cubsfan who wrote (5418)	5/4/2009 8:39:46 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

cubs - CYOU showing 37.

To: cubsfan who wrote (5418)	5/4/2009 9:28:44 AM
From: RockyBalboa	Respond to of 6370

Changyou Reports First Quarter 2009 Results, 72c Company Exceeds Revenue Guidance Previously Issued by Sohu by US$1.6 Million; Total Revenues Grow 6% Quarter-Over-Quarter and 50% Year-Over-Year to Record US$61.6 Million; Non-GAAP Net Income Grows 13% Quarter-Over-Quarter and 100% Year-Over-Year to Record US$34.4 Million First Quarter 2009 Highlights -- Total revenues reached a record of US$61.6 million, an increase of 6% quarter-over-quarter and 50% year-over-year. -- GAAP net income reached a record of US$33.5 million, an increase of 15% quarter-over-quarter and 120% year-over-year. -- Non-GAAP(1) net income (i.e., net income excluding share-based compensation expense) reached a record of US$34.4 million, an increase of 13% quarter-over-quarter and 100% year-over-year. -- Non-GAAP fully diluted earnings per American depositary share ("ADS") (one ADS represents two Class A ordinary shares) were US$0.72, compared to US$0.64 in the fourth quarter of 2008 and US$0.36 in the first quarter of 2008. -- Aggregate peak concurrent users ("PCU") for both MMORPGs(2) grew 16% quarter-over-quarter and 47% year-over-year to 970,000. -- Active paying accounts ("APA") for both MMORPGs grew 14% quarter-over- quarter and 50% year-over-year to 2.27 million. (1) Explanation of the Company's non-GAAP financial measures and related reconciliations to GAAP financial measures are included in the accompanying "Non-GAAP Disclosure" and the "Reconciliation to Unaudited Condensed Consolidated Statements of Operations." (2) MMORPGs include Tian Long Ba Bu and Blade Online. "I'm pleased to have delivered another quarter of record results as we report for the first time as a standalone public company," said Mr. Tao Wang, Changyou's chief executive officer. "Online games, which provide low-cost entertainment, continue to be a very popular leisure time activity in China, even in an economic downturn, making the industry a strong defensive play. Our peak concurrent users and active paying accounts reached record highs during the quarter, demonstrating the efficacy of our strategy of focusing on the user experience. We continued to leverage synergies with our parent company Sohu.com Inc. ("Sohu") and our expanded offline marketing efforts to reach gamers in new cities and increase our penetration in existing cities. With our strong execution capabilities, I'm confident that we can successfully extend the lifespan of our existing games and release new titles that capture the imagination and mindshare of China's growing population of online gamers." Mr. Tao Wang continued, "Going forward, Sohu and Changyou will continue to enjoy the same synergies as before. Sohu provides Changyou with advertising resources on the Sohu portal and its verticals, especially China's largest gaming portal 17173.com, marketing and promotion of Changyou's games through the use of Sohu's web domains, single user-ID system and base of more than 250 million registered users, as well as Sohu's strong brand recognition and user platforms. Meanwhile, Changyou continues to bring users to Sohu portal." Mr. Alex Ho, Changyou's chief financial officer said, "Our relentless focus on executing our business strategies resulted in record results in the first quarter of 2009, and we exceeded Sohu's previously issued guidance for the seventh time in the previous eight quarters. We would also like to thank all shareholders and the investment community for their support in our IPO process. Our IPO provides us with the platform and resources to become a leading company in the MMORPG industry. Our strong brand recognition, rich cash flow, high margins and high profitability position us to capitalize on opportunities as they arise." First Quarter 2009 Operational Results Aggregate PCU for both MMORPGs increased 16% quarter-over-quarter and 47% year-over-year to 970,000, while PCU for Tian Long Ba Bu ("TLBB"), the Company's in-house-developed, martial-arts-style game, increased 19% quarter- over-quarter and 48% year-over-year to 875,000 following the release of the Company's "Legend of the Shadow" expansion pack on March 26, 2009. Registered accounts of TLBB as of March 31, 2009 increased 12% quarter-over-quarter and 80% year-over-year to 50.1 million. Aggregate APA for both MMORPGs increased 14% quarter-over-quarter and 50% year-over-year to 2.27 million, while APA for TLBB increased 16% quarter-over- quarter and 52% year-over-year to 2.11 million. Average revenue per user ("ARPU") for both MMORPGs decreased 8% quarter- over-quarter and 7% year-over-year to RMB179, while ARPU for TLBB decreased 9% quarter-over-quarter and 12% year-over-year to RMB176. The decrease was mainly a result of the Company's strategic decision to maintain TLBB ARPU at a level that is comfortable for the majority of Chinese game players with the goal of fostering a healthy in-game environment so as to further extend the lifecycle of the game. First Quarter 2009 Unaudited Financial Results Revenues Total revenues for the first quarter of 2009 increased 6% quarter-over- quarter and 50% year-over-year to US$61.6 million. The increases were mainly attributable to an increase in TLBB revenues as a result of user base expansion and enhanced user loyalty, as well as increased revenues from Blade Online ("BO"). Revenues from game operations increased 5% quarter-over-quarter and 46% year-over-year to US$59.3 million. The increases were mainly due to the higher APA, which reflects the growing popularity of the Company's online games. Revenues from game operations include those generated from TLBB, which increased 6% quarter-over-quarter and 41% year-over-year to US$54.4 million and revenues for Blade Online, which increased 2% quarter-over-quarter and 139% year-over-year to US$5.0 million. Overseas licensing revenues increased 14% quarter-over-quarter and 493% year-over-year to US$2.3 million. Changyou began licensing TLBB to Vietnam in August 2007, and Hong Kong and Taiwan in April 2008. The quarter-over-quarter increase was primarily due to the successful launch and user acceptance of expansion packs in overseas markets during the first quarter of 2009. Cost of Revenues Cost of revenues decreased 21% quarter-over-quarter and increased 7% year- over-year to US$3.4 million. Non-GAAP cost of revenues decreased 22% quarter- over-quarter and increased 6% year-over-year to US$3.4 million. The quarter- over-quarter decrease was primarily the result of relatively higher cost of revenues in the fourth quarter of 2008 due to a special promotion the Company ran in the fourth quarter that bundled virtual items with a printed anthology of Louis Cha's books. Louis Cha is the author of the books on which TLBB and the Company's pipeline game Duke of Mount Deer are based. Gross Profit Gross profit increased 8% quarter-over-quarter and 54% year-over-year to US$58.2 million. First quarter 2009 gross margin was 94%, compared to 92% in both the previous quarter and the first quarter of 2008. Non-GAAP gross profit increased 8% quarter-over-quarter and 54% year-over-year to US$58.2 million. First quarter 2009 non-GAAP gross margin was 94%, compared to 93% in the previous quarter and 92% in the first quarter of 2008. ....

To: cubsfan who wrote (5418)	7/27/2009 6:23:33 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

BRIEF-Changyou Q2 results (ED: not really impressive but beat estimates anyways; revenue outlook for Q3 is below consensus!) July 27 (Reuters) - Changyou.com Ltd : * Changyou reports second quarter 2009 results * Says Q2 total revenues $66.6 million * Says Q2 non-GAAP net income excluding items, $0.75 per fully diluted ads * Sees Q3 2009 revenue $67 million to $69 million * Reuters Estimates Q2 earnings per share view $0.61, revenue view $65.13 million * Reuters Estimates Q3 revenue view $68.95 million ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780)) ((For more news, please click here [CYOU.O])) Stock nonetheless printed 44.99; it is still very early.