Changyou.com earnings for the first quarter of 2019 have CYOU stock flying high on Monday.
Changyou.com (NASDAQ:CYOU) reported earnings per share of 69 cents for the first quarter of the year. This is much better than its losses per share of 30 cents from the same time in 2018. It was also good news for CYOU stock by blowing past Wall Street’s earnings per share estimate of 51 cents for the quarter.
The Changyou.com earnings report for the first quarter of 2019 also includes net income of $37 million. This is an improvement over the company’s net loss of $13 million reported in the same period of the year prior.
Operating income reported in the Changyou.com earnings report for the first quarter of the year comes in at $41 million. That’s up from the company’s operating income of $37 million reported in the first quarter of 2018.
Changyou.com earnings for the first quarter of 2019 also have revenue coming in at $123.00 million. This is down 10% from the Chinese game company’s revenue reported during the same time last year. However, it was still a plus for CYOU stock by coming in above analysts’ revenue estimate of $115.85 million for the period.
Changyou.com also providers an outlook for the second quarter of the year in its most recent earnings report. The company is expecting revenue for the quarter to range from $110 million to $120 million. It is also looking for earnings per share between 41 cents and 50 cents. Wall Street is estimating revenue of $106.77 million with earnings per share of 46 cents for the quarter.
CYOU stock was up 24% as of Monday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
Article printed from InvestorPlace Media, https://investorplace.com/2019/04/changyou-com-earnings-send-cyou-stock-surging/.
©2019 InvestorPlace Media, LLC
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