Giant's second-quarter profit increased 19.6% year-on-year

On August 6, Giants Network (GA) released its 2013 second quarter earnings report. According to the report, the revenue for the second quarter was 588.1 million yuan, an increase of 2.7% from the previous quarter and a year-on-year increase of 11.3%. The net profit was 367.6 million yuan, which was a 12.7% increase from the previous quarter and a year-on-year increase of 19.6%.

This is the first financial report released by Giants Network after founder Shi Yuzhu announced his resignation in April this year. The company expects revenue in the third quarter to remain flat to a slight increase from the previous quarter.

In terms of product data, the average number of simultaneous online players (ACU) and the highest number of simultaneous online players (PCU) both showed year-on-year and quarter-over-quarter increases. APA increased by 3.1% QoQ and 5.0% YoY. Average paid user revenue increased by 4.8% year-on-year and 2.5% month-on-month.

Giant Internet CEO Liu Wei said that the company’s latest flagship MMO “Xian Xia World” has achieved better-than-expected performance. With the word-of-mouth communication of players on sophisticated game quality, “Xian Xia World” has maintained a high frequency with new servers and has become the second brand outside the “Journey” series. Liu Wei said that "Xian Xia World" will be open beta in the third quarter, will increase marketing efforts to further expand the user base.

Liu Wei revealed that two self-developed page tours and at least one mobile game will be launched in the second half of this year.

Giants Networks announced a dividend of US$0.23 per share in the first half of 2013, which will be distributed semi-annually in the future.