Chinese online and mobile games publisher Shanda Games (NASDAQ:GAME) has announced its unaudited consolidated financial results for Q2 FY14, the three months ending June 30, 2014.
Net revenues were $157 million, down 3 percent quarter-on-quarter, and 12 percent year-on-year.
Net income was $49 million, down 2 percent quarter-on-quarter and 38 percent year-on-year.
Shanda generated net cash of $29 million, and ends the quarter with cash and equivalents worth $159 million.
Mobile games accounted for 9 percent of total revenue.
Net revenue was $13.9 million, up 31 percent on a quarterly basis, but down 16 percent annually.
This was thanks to the successful launch of Sega's Chain Chronicle in China and South Korea
However, revenues from Shanda's very successful local publishing of Square Enix's Million Arthur are now decreasing, hence the year-on-year decrease.
During the quarter, Shanda also began testing of KLabs' 2D mobile card game Love Live, Cygames' Three Kingdoms Puzzle Wars, as well as the internally-developed Bloodline.
The number of daily active players of Shanda's mobile games was up 6 percent quarter-on-quarter to 488,600, while ARDAU increased 22.5 percent to RMB 1.9 ($0.31)