Shanda reports record revenue

SHANGHAI — Chinese online game giant Shanda Interactive Entertainment Ltd. reported record revenue of $97.8 million for the last quarter of 2007, company executives told analysts and investors Tuesday.

Revenue was up 52% over the same period last year, with annual revenue up 49% to $337.8 million.

“We saw a strong contribution from expansion packs and newly commercialized games,” president Jun Tang said. “We also had higher conversion from players to paying customers, as well as new customers.”

In 2008, the company is planning to release eight more massively multiplayer online role-playing games as well as six more casual games, he said.

Read full article at The Hollywood Reporter.