Perfect World Raises 2Q Revenue Outlook

NEW YORK (AP) — Perfect World Co. on Friday raised its second-quarter revenue outlook above Street expectations, saying new game "Battle of the Immortals" and its recently released game expansion packs have been more popular than the Chinese online gaming company anticipated.

American Depositary Shares rose $2.25, or 8.4 percent, to $28.92 in morning trading.

Perfect World said it now expects revenue of 489 million yuan ($71.7 million) to 510 million yuan ($74.7 million), which would be an increase of 15 percent to 20 percent over the first quarter. The company had previously predicted revenue of 417 million yuan to 434 million yuan.

Analysts polled by Thomson Reuters expect $64 million in revenue, on average.