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Giant Network Group Q3 profit climbs YOY

Giant Network Group Co. Ltd. said its normalized net income for the third quarter amounted to 10 fen per share, a decrease from 10 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 194.8 million yuan, an increase from 192.2 million yuan in the prior-year period.

The normalized profit margin fell to 30.1% from 31.1% in the year-earlier period.

Total revenue grew year over year to 646.0 million yuan from 618.6 million yuan, and total operating expenses climbed 10.8% from the prior-year period to 396.8 million yuan from 358.0 million yuan.

Reported net income increased 16.5% on an annual basis to 346.0 million yuan, or 17 fen per share, from 296.9 million yuan, or 15 fen per share.

As of Oct. 27, US$1 was equivalent to 6.65 yuan.