Changyou Q4 Profit Down, Misses Estimates; Sees Sequentially Higher Q1 Earnings

(RTTNews) - Changyou.com Limited (CYOU), a online game developer and operator in China, Friday said it expects first-quarter attributable net income to be between $22 million and $27 million, and earnings per ADS to be between $0.41 and $0.50.

The company projects adjusted attributable net income of between $23 million and $28 million, and adjusted earnings per ADS of between $0.43 and $0.52.

Total revenue for the quarter is expected to be between $105 million and $115 million, including online game revenue of $80 million to $90 million.

In its fourth quarter, the company reported attributable net income of $10 million, down from $34 million last year. Earnings per ADS were $0.19, down from $0.65 last year.

Adjusted attributable net income was $11 million, compared to $34 million a year ago. Adjusted earnings per ADS were $0.21.

Total revenue was $118 million, a decrease of 18% from $144.46 million last year. Online game revenue was $94 million, down 14% year-over-year.

On average, analysts polled by Thomson Reuters expected earnings of $0.51 per share on revenues of $116.94 million.