Shares of Shanda (SNDA) rose in after-hours trading after the Chinese interactive media company reported better-than expected second-quarter results.
Shanda made $16.7 million, or 24 cents a share, on revenue of $50.7 million. Analysts were expecting earnings of 6 cents a share on sales of $42.8 million, according to Thomson Financial.
The company's business that includes role-playing computer games was up 36%, compared with the single-digit percentage growth analysts had expected, says Ming Zhao, an analyst with Susquehanna Financial Group who has a neutral rating on the shares.
``They have managed their costs very efficiently,'' he says.Shanda rose $1.10, or 7%, to $17.65.