Leading Chinese online games operator Shanda has disclosed its preliminary second quarter 2008 financial results, showing a decrease in net income despite a bump in revenues.
 
Second quarter net income was $40.8 million, down 32.7 percent on last year’s Q2 figure and 3.1 percent on Q1 2008’s total.

Net revenues for the quarter hit $122.1 million, up 48.4 percent on Q2 2007, with online game revenues accounting for $117 million of the total.

Gross profit for the second quarter of 2008 was $88.9 million, representing a 60.7 percent increase over Q2 2007, while operating income was up 37.4 percent to $48.9 million.

"Shanda delivered significant revenue growth in the second quarter of 2008 despite the impact of the devastating Sichuan earthquake,” said Shanda CEO Tianqiao Chen. “Quarterly net revenue grew 7.4% sequentially, which exceeded our previous guidance."