BEIJING (dpa-AFX) - Chinese online game developer and operator Changyou.com
Ltd. (CYOU) Monday announced a first quarter net income attributable to the
company of $32.29 million or $0.62 per share, down from $38.465 million or $0.74
Having declined steadily for a month, Changyou.Com Ltd (ADR) (NASDAQ: CYOU) shares have lost 29 percent since January 5.
Credit Suisse’s Dick Wei downgraded the rating for the company to Neutral, while reducing the price target from $25 to...
Changyou.com (NASDAQ:CYOU) was the online gaming subsidiary of Sohu.com until 23 April 2009 when it went public on the NASDAQ, selling 7.5 million shares at $16.00 per share to raise $120 million in capital.
Because Sohu owns a majority of Changyou (81% of voting rights), Changyou's results are consolidated on Sohu's financial statements.