Shanda Earnings Surge

The stock sells down in the late session, however.
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Shanda Interactive's

(SNDA)

second-quarter earnings rose 58% from a year ago, boosted by strong sales of online games.

The Shanghai-based firm earned $26.9 million, or 36 cents per American depositary share, in the quarter, compared with $17.0 million a year ago. The latest quarter had a $600,000 investment loss and a $500,000 acquisition-related write-off.

Revenue jumped 88% from a year ago to $65.2 million.

Shanda's online game revenue was $56.4 million in the quarter, up 72% from a year ago, reflecting strong performances by its MMORPG title, among others.

The shares closed Tuesday at $37.50. In after-hours trading, they fell $3.45, or 9.2%, to $34.05.