Sees Ad Revenues Increase

11 February 2009

BEIJING:, the Chinese web portal providing services ranging from search to online games, almost tripled its revenues in the final quarter of 2008 to $121.6 million (€93.7m; £82.3m), with advertising revenues also increasing by 38% to a total of $46.6m.

The company's net income from the final quarter of last year was $56.6m, up from $15.1m in the year-ago period, and it now has a market capitalization value of some $1.6bn.

Alongside growing advertising income, online gaming revenues almost doubled in value to $58.4m, largely thanks to the role-playing game Tian Long Ba Bu, which provided revenues of $53.5m.

The company predicted that its advertising revenues, which are based on displaying brand ads on a webpage for a set period of time rather than the pay-per-click model of search ads, would remain solid in the first quarter of 2009.

Data sourced from Wall Street Journal; additional content by WARC staff