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Need a new registration confirmation email? Click here Limited Management Discusses Q2 2012 Results - Earnings Call Transcript

Forward-looking statements involve inherent risk and uncertainty. The company cautions that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risk and uncertainties include, but are not limited to, the current global financial and credit market crisis and its potential impact on China's economy; the uncertain regulatory landscape in the People's Republic of China; fluctuations in Changyou's quarterly operating results; Changyou's historical and possible future losses and limited operating history; and the company's reliance on Tian Long Ba Bu as its major revenue source. Further information regarding these and other risks is included in Changyou's annual report on Form 20-F filed on February 28, 2012, and other filings with the Securities and Exchange Commission.

Now let me turn the call over to our CFO, Mr. Alex Ho. Alex?

Alex Ho

Thanks, Angie. Hello, everyone, and thank you for joining us today. We have continued to deliver strong financial results on the back of the performance of our core MMO games, web games and online advertising business during the quarter. Both of our top line and bottom line results have reached record high and exceeded our guidance by a wide margin.

Total revenues for the second quarter reached a record $147.3 million, an increase of 8% quarter-over-quarter and 30% year-over-year, exceeding the high end of our guidance by $3.8 million. Online games revenue for the second quarter increased to 8% quarter-over-quarter and 35% year-over-year to $137.2 million, exceeding the high end of our guidance by $4.2 million.

Online advertising revenue, which consists of revenue generated from the 17173 business, increased 11% quarter-over-quarter and 10% year-over-year to $9.1 million. Non-GAAP net income attributable to Limited reached a record $72.3 million, an increase of 9% quarter-over-quarter and 16% year-over-year, exceeding the high end of our guidance by $12.3 million.

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