Perfect World (PWRD) Earnings - Mostly Inline

Should be an interesting reaction to Perfect World (PWRD) earnings today - last time around they beat estimates by 3 cents, but gave very light guidance [May 19: Perfect World - Good Earnings, Light Guidance; Buying the Dip] that they quickly upped within a month when the stock was hammered [Jun 13: Perfect World up 13% in Early Trading on Raised Guidance]. This time around - in line earnings and in line to slightly upward guidance - with such a depressed valuation; the stock is trading nearly 25% lower than where it was ahead of last quarter's earnings report - it will be interesting to see how the market handles the stock. As they had warned the earthquake and aftermath did effect results, but still tremendous year over year growth and solid sequential growth.

• Total revenues were RMB334.4 million (USD48.8 million) in 2Q08, an increase of 10.3%, or RMB31.3 millio