Filed under: Major Movement, Earnings Reports, Analyst Upgrades and Downgrades, Forecasts, China, Technical Analysis
Chinese gaming concern Perfect World (PWRD) took the earnings stage last night, with the company unveiling a third-quarter profit of CNY213.7 million, or $31.9 million — down 26% on a year-over-year basis. Excluding items, Perfect World earned CNY4.53 per share, or 68 cents, compared to Wall Street’s forecast for 53 cents per share. Revenue for the period rose 12% to CNY658.2 million.
Despite Perfect World’s respectable third-quarter performance, analysts seem less than thrilled with the firm’s fourth-quarter outlook. Citigroup downgraded the stock to sell from buy, while Credit Suisse lowered its opinion to underperform from outperform.
Continue reading Perfect World Plunges After Lackluster Q4 Guidance
Perfect World Plunges After Lackluster Q4 Guidance originally appeared on BloggingStocks on Tue, 16 Nov 2010 12:30:00 EST. Please see our terms for use of feeds.

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