Giant Interactive's 3Q10 In Line With Estimates

Citi published its research report on Giant Interactive Group GA following 3Q10 results. Citi writes, "Total net revs of US$50.6m (+17% YoY and +5% QoQ), compared to Citi's/Street's US$49.6m/US$50.9m, respectively. GAAP net income came in at US$30.9m or US$0.13/share, largely inline with our/Street's US$30.4m/$30.0m. Ex-SBC, non-GAAP EPADS came in at US$0.14, vs. our/Street's US$0.13. GA expects to continue top-line growth in 4Q10 mainly coming from ZT Online Series and other current games in the portfolio. Street was looking at US$54m, +7% QoQ growth into the quarter." GA has a Hold rating and a price target of $7.50. GA closed yesterday at $6.87.