Perfect World Co. Ltd.'s second-quarter earnings drooped as the online game maker ramped up its spending to promote its latest titles in China, North America and Europe.
The Beijing-based company said Monday that it made 80.7 million yuan ($13.2 million), or 1.66 yuan (27 cents) per share, during the three months ending in June. That marked a 49 percent decline from net income of 158.2 million yuan at the same time last year.
If not for certain items unrelated to its ongoing business, Perfect World said it would have earned 2.01 yuan (33 cents) per share. That figure exceeded the average analyst estimate of 29 cents per share among analysts surveyed by FactSet.
Revenue increased 5 percent from last year to 708.5 million yuan ($115.4 million).
The period included the May release of "Saint Seiya Online," a 3-D game designed for players in China, and the April release of "Neverwinter," which is aimed at the North American and European markets. "Neverwinter" was developed by Perfect World's U.S. subsidiary, Cryptic Studios. Perfect World is hoping to design another version of "Neverwinter" for the Chinese market.
The marketing costs for the new games contributed to a 19 percent year-over-year increase in Perfect World's operating expenses during the quarter.
Perfect World's American Depositary shares shed $1.32, or more than 6 percent, to $19.30 in extended trading after the results came out. The stock is up 93 percent so far this year through Monday's regular-session close.