Net revenues for the fourth quarter of 2007 increased by 34% quarter-over-quarter and by 50% year-over-year to CNY423.7 million for Chinese online gaming firm The9 (NCTY).
The company announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2007 and said net revenues attributable to the operations of subscription-based games, which included revenues from game playing time, merchandise and installation package sales, increased by 39% quarter-over-quarter and by 38% year-over-year to CNY387.5 million in the fourth quarter of 2007
Jun Zhu, chairman and CEO, said, "Our solid financial results were mainly due to the strong growth of player usage of Blizzard Entertainment's World of Warcraft game with the launch of The Burning Crusade expansion pack, as well as a new revenue source from commercialization of our new game Granado Espada in late November. In the fourth quarter of 2007, we attained aggregate peak concurrent users of approximately 1.2 million for games that are currently in commercial operations, and as of December 31, 2007, we had over 33.4 million total registered users."
For the fourth quarter of 2007, The9 reported total gross revenues of CNY447.5 million, an increase of 34% compared to CNY333.3 million in the third quarter of 2007 and by 50% compared to CNY297.8 million in the fourth quarter of 2006. Total net revenues were CNY423.7 million, which increased by 34% compared to CNY316.0 million in the third quarter of 2007 and by 50% compared to CNY282.7 million in the fourth quarter of 2006.
For fiscal year 2007, total gross revenues were CNY1.35 billion, a 30% increase compared to CNY1.04 billion in fiscal year 2006. Total net revenues for fiscal year 2007 were CNY1.28 billion, increased by 30% from CNY985.8 million in fiscal year 2006.