Perfect World's Q3 Financial Statement Is Less Than Perfect
Perfect World's profits are down in the most recent quarter. Time to beef up the cash shop?
We kid, we kid. But a recent report indicates that it's the North American branch of the company that's dragging things down. While the company's profits have grown 5% year-to-year in Q3, net income is down by nearly 50% in Q3 2014 as compared to Q3 2013.
The full financial report, of course, doesn't say much other than "We're doing fine, look at all the new stuff we've got!" At least until you get to this part, where CEO Robert Xiao says:
"In view of U.S. subsidiary’s recent performance and near-term business outlook that are below our expectations, we recognized acquisition-related impairments in this quarter. However, we are still confident in the long-term prospects of our U.S. subsidiary given its strong R&D and operational capabilities as well as promising pipeline."
This isn't to say everything is rosy outside of America. In China, concurrent users of Perfect World's games dropped from 778,000 in Q3 2013 to 661,000 in Q2 2014 and 623,000 in Q3 2014. Neverwinter will soon launch in China for PC, having already debuted on Xbox One, so there's some hope for those numbers.
And no, despite a disappointing quarter, Perfect World's not going anywhere, so put your doomsayer's hat away. If they have major problems, they'll just "restructure" so as to "remain competitive." Read that any way you like.
About the Author
Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.
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