Perfect World end-quarter revenue grows thanks to DOTA 2
The soft launch of Valve’s MOBA alongside mobile game Return of Condor Heroes increased the Chinese-based publisher’s revenue by 11 per centBy Jonathan Toyad 12 Mar, 2014
For its fourth quarter 2013 earnings, the company saw revenue growth of US$151 million, while its net profit was at US$34.7 million. For comparison’s sake, the company’s fourth quarter earnings in 2012 was US$111 million in revenue growth and US$14 million in net profit. That’s quite an improvement.
The big jump in profit was due to the strong performance of Perfect World’s mobile game Return of Condor Heroes, together with the aforementioned soft release of DOTA 2. The game will launch in full this year in China, according to CEO Robert Xiao.
Overall, the China-based publisher saw a 2013 revenue increase of 11 per cent. Up until December 31, 2013, Perfect World earned US$504 billion in revenue, which was a step up from its fourth quarter 2012 results of US$456 billion. The company also gained US$88.3 million in net profit, which was a slight increase from the US$88 million it got back in 2012.
Xiao said that its current and future partnerships will fuel the company’s growth; he cited Perfect World’s agreement with mobile phone company Huawei to install its games on new Huawei phones as an example.