Perfect World Beats Estimates (PWRD)

Perfect World Co., Ltd. PWRD announced after the market closed on Monday that it beat consensus Wall Street estimates. Perfect World Co., Ltd reported that its 3rd quarter net income attributable to shareholders fell to RMB213.7 million (USD31.9 million), or RMB4.05 (USD0.60) per share, down from RMB288.3 million a year earlier. Excluding special items, the company's earnings came in at 68 cents per share. The company's revenues rose to RMB658.2 million (USD98.4 million), up from RMB590.0 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 54 cents per share, on revenue of $89.96 million. Chairman and chief executive officer Michael Chi said, "Our third quarter results were mixed as our overall revenues came in ahead of our guidance due to the contribution from our television and movie business. Our performance in the online gaming business was slightly softer than we anticipated. However, our continuing strategic expansion into television, movies and other related businesses is not only broadening our revenue streams, but also providing access to content and resources that are expected to create synergies between different segments of our business in the future." Perfect World Co., Ltd. (PWRD) closed Monday trading at $31.47 per share. Analysts covering the company's stock give it a consensus price target of $32.62 per share. Read more from Benzinga's Company news.