According to Goldman Sachs, Giant Interactive Group GA will report 1Q11 results on May 12 after market close.
Goldman Sachs said that it forecasts revenue growth of 7% qoq and 29% yoy, 3% above Bloomberg consensus, driven by ZT II (launched in 4Q10). “We forecast non-GAAP EPS to decline 8% qoq but grow 17% yoy, in line with consensus. We forecast the EBIT margin ex-government subsidy to recover in 1Q11, up 15 ppt qoq to 51%, as GA recorded a one-time impairment charge of Rmb47mn (13% of revenue) in 4Q10. We model a Rmb8mn subsidy in 1Q11, similar to the 1Q10 level.”
Giant Interactive Group closed yesterday at $8.87.
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