Biz Scene: Market

Gamer misses forecasts

China's No 2 online gaming firm NetEase missed forecasts with a 17 percent drop in quarterly net profit, dented by competition from rivals like Sohu.com.

Recent US initial public offerings by Chinese gaming rivals, such as No 3 online game maker Giant Interactive Group Inc and Perfect World Co Ltd, mean competition will only get tougher, Chief Executive William Ding said in a conference call.

Profit up

China's top online travel agent, Ctrip.com, yesterday posted a rise in quarterly profit that topped Wall Street estimates, driven by continued growth in travel demand.

Ctrip reported a third-quarter profit of $15 million, or 21 cents per American Depositary Share. It was 12 cents per ADS in the same period last year.

Total revenue was $46 million, which Ctrip said was up 55 percent from a year earlier, fueled by higher revenue from hotel reservations, air ticket bookings and package tours.

(China Daily 11/09/2007 page15)