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Giant Interactive looks to mobile and web games to grow its player base

First inhouse mobile game due in 2013

Giant Interactive looks to mobile and web games to grow its player base
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Chinese publisher Giant Interactive (NYSE: GA) has announced its financials for its FY13 Q2, the three months ending 30 June 2013.

Net revenue was $95.8 million (RMB 588 million), up 11 percent year-on-year.

Net income was $59.9 million (RMB 368 million), up 20 percent.

The company had 2.3 million active paying accounts during the period, with average revenue per user of $39.76 (RMB 244).

Strategic priority

The company's sales mainly come from client-based MMOGs, but its future plans will see it investing in web and mobile games.

Its first internally-developed mobile game will be launched in the second half of 2013.

Giant said it was also looking to investment and acquisition opportunities, as well as strategic partnerships, to build out its mobile pipeline. In the medium term, it hopes to use success in web and mobile game to expand into overseas markets.

"We hope that these new games will start to contribute revenue in the fourth quarter this year and become a new milestone which leads to sustainable and diversified growth in the years to come," said CEO Ms Wei Liu.

The company ended the quarter with cash, equivalents and short-term investments worth $544 million, up 11 percent compared to 31 March 2013.

[source: Giant Interactive]