Perfect World Co., Ltd. (NASDAQ: PWRD) is leading the gainers list this morning. With less than 25 minutes until the open we have seen some 300,000 shares trade hands and the gain is up 27.1% at $15.95.
The Chinese online game developer reported on Thursday that its revenues were up a sharp 32% on strong demand for its multiplayer role-playing game called Zhu Xian in China. Net income was $41.3 million or $0.87 in converted terms and revenues were $123.4 million.
When we looked at the gain on Thursday evening the ADR was up around $14.68. Now shares are up another $1.00 and the 52-week trading range is $8.44 to $29.10.
This begs a question… Are all of the accounting woes from China getting behind us?
JON C. OGG