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What: Shares of China-based online gaming outfit Perfect World
So what: The company reported second-quarter earnings this morning, and investors love the results. Sales of $120.6 million comfortably beat the $108 million analyst consensus, and adjusted earnings of $1.01 per depositary share absolutely crushed the $0.57 average estimate.
Now what: Perfect World also annihilated expectations three months ago as the company continued to tap into a burgeoning Chinese middle class. In the words of CEO Michael Chi: "With the continued rise of the number of Internet users in China, it is highly likely that the online gamer population in China will also continue to grow rapidly."
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