Shares of Shanda Interactive Entertainment(SNDA) were among technology's losers Tuesday, slumping 19% after the Chinese operator of online games posted weaker-than-expected fourth-quarter results.
The company reported a loss of $66.8 million, or 94 cents per American depository share, including an impairment charge of $64.6 million, or 90 cents a share. Without the charge, the company had a loss of 4 cents a share. Revenue, meanwhile, totaled $44.7 million.
Analysts polled by Thomson First Call expected a profit of 26 cents a share on revenue of $59 million. For the full year, the company earned $20.5 million, or 28 cents a share. Excluding the fourth-quarter charge, the company earned $85.1 million. Shares were trading down $3.17 to $13.75. ...
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