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Giant Interactive sees 3Q revenue below Street
AP ONLINE
posted: 56 DAYS 10 HOURS AGO
NEW YORK (AP) — Giant Interactive Group Inc. anticipates third-quarter revenue below analysts' estimates, partly due to the cancellation of some money features within its games.
The Chinese online game developer and operator expects quarterly sales of 272 million yuan ($39.9 million) to 291 million yuan ($42.7 million).
Analysts surveyed by Thomson Reuters predict third-quarter revenue of $50 million.
Giant Interactive Group said late Wednesday that its results were hurt by its voluntary cancellation of some money features within its games in order to comply with virtual currency regulations created by the Chinese government.
The company will release its third-quarter results in the middle of November.
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