Changyou sees Q2 F2013 sales up 24% to 182 million

Chinese online and mobile publisher Changyou (NASDAQ: CYOU) has announced its Q2 unaudited financials for the three months ending 30 June 2013.

Total revenues were a record $182 million, up 24 percent year-on-year.

Net income was $75 million, up 9 percent year-on-year.

The average revenue per active paying account rose 53 percent year-on-year to around $69 (RMB 424).

Into the mobile transition

Despite 92 percent of revenues coming from its PC online games such as Wartune and DDTank, Changyou - which also runs the 17173.com news website - is looking to release more mobile games.

CEO Tao Wang says that he expects the company to have a solid release schedule of mobile games in the second half of 2013, of which half will be internally developed.

During the quarter, Changyou completed the acquisition of the 24 percent of Wartune developer 7Road it didn't previously own.

It's also authorised a $100 million share repurchase scheme that will run over the next two years.

Changyou ended the quarter with cash and equivalents of $470 million.

[source: Changyou IR]