Perfection at Perfect World (PWRD)
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…
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
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
