Perfect World Getting Crushed After Earnings Release (PWRD)

Chinese online game developer Perfect World Co. PWRD reported net income of $44.7 million. On a non-GAAP basis, net income was $47.90 million, or $0.90 per share. On a GAAP basis, EPS was $0.84. This was in line with analysts' estimates. Revenues were $91.57 million compared to Street estimates of $92.85. During today's trading session, PWRD shares are getting hammered, losing over 20% to $26.21 in the first hour of trading.