Changyou’s second-quarter net profit of $16 million fell 50% year-on-year.

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[abstract] Changyou’s total revenue in the second quarter was $119 million, up 5% year-on-year and down 4% year-on-year. Gross profit in the second quarter was $80 million, up 8% year-on-year and down 9% year-on-year, while Changyou’s gross profit in the second quarter was $80 million, up 8% year-on-year and down 9% year-on-year, not in accordance with the General Accounting Standards of the United States.
According to foreign media reports, Changyou (Nasdaq Securities Code: CYOU) released its unaudited earnings for the second quarter up to 30 June 2019 before trading Monday. According to the results, Changyou’s total revenue in the second quarter was $119 million, up 5% from the same period last year, while its net profit attributable to Changyou was $16 million, down 50% from the same period last year.
Main results for the second quarter:
Changyou’s total revenue in the second quarter was $119 million, up 5% year-on-year and down 4% year-on-year. Among them, online game revenue was 102 million US dollars, 8% year-on-year growth and 3% year-on-year growth; online advertising revenue was 4 million US dollars, down 28% year-on-year growth and 19% year-on-year growth; cinema advertising revenue was 13 million US dollars, up 8% year-on-year growth and down 38% year-on-year growth; Internet value-added services revenue was 0, because Changyou ended mutual exchange in the second quarter. The operation of value-added services on the Internet.
Changyou’s gross profit in the second quarter was $80 million, up 8% year-on-year and down 9% year-on-year, while Changyou’s gross profit in the second quarter was $80 million, up 8% year-on-year and down 9% year-on-year, not in accordance with the General Accounting Standards of the United States. Among them, gross profit of online games was 84 million US dollars, up 5% year on year, down 1% year on year; gross profit of online advertising was 3 million US dollars, down 37% year on year, up 25% year on year; gross profit of cinema advertising was 6 million US dollars, gross loss of the same period last year was 10 million US dollars, gross profit of the last quarter was 1 million US dollars; gross profit of Internet value-added clothing was 1 million US dollars. Gross operating loss was $200,000, gross profit was $100,000 in the same period last year, and gross loss was $300,000 in the last quarter.
Changyou’s total operating expenditure in the second quarter was $67 million, up 38% year-on-year and 44% year-on-year. Among them, product development expenditure was $30 million, up 7% year-on-year, 2% year-on-year; sales and marketing expenditure was $14 million, down 4% year-on-year, up 30% year-on-year; general and administrative expenditure was $23 million, up 292% year-on-year, up 337% year-on-year.
Changyou made an operating profit of $13 million in the second quarter, compared with $26 million in the same period last year and $41 million in the last quarter. Changyou’s operating profit in the second quarter was $11 million, not in accordance with General Accounting Standards, compared with $21 million in the same period last year and $41 million in the last quarter.
– Changyou’s net profit in the second quarter was $16 million, down 50% from $32 million in the same period last year, less than $37 million in the previous quarter. In the second quarter, net profit attributable to Changyou was $14 million, compared with $28 million in the same period last year and $37 million in the previous quarter.
As of June 30, 2019, Changyou had $217 million in cash and cash equivalents, compared with $673 million as of December 31, 2018. Changyou’s cash holdings fell sharply, mainly due to a special dividend of about $503 million to shareholders in the second quarter.
Changyou second quarter PC game monthly active users of 2 million people, down 13% year-on-year, ring-on-ring growth of 5%.
Changyou’s monthly active account for mobile games in the second quarter was 2.7 million, down 16% year-on-year and flat.
Changyou’s monthly active payment account for PC games in the second quarter was 900,000, up 29% year-on-year and flat.
Changyou Mobile Game’s monthly active paying subscribers in the second quarter were 600,000, down 14% from the same period last year.
Performance outlook:
Changyou expects total revenue in the third quarter to be between $90 million and $100 million, of which online game revenue is about $80 million; net profit attributable to Changyou will be between $22 million and $27 million, or between $41 and $0.50 per share of US Depository Certificate dilution income, unless in accordance with the US General Accounting Standards. (Tencent Science and Technology Compilation/Mingxuan)