Giant network fell more than 9% in early Wednesday

Sina Science and technology news Beijing time of August 7, the Giant Network (NYSE:GA) Wednesday higher, the share price soared down the way down, early decline was once more than 9%. As of 22:21, the giant network fell 7.57% and reported 7.81 dollars.

The Giant network today released its second-quarter earnings for 2013. Earnings showed the second quarter revenue of 95.8 million U.S. dollars, an increase of 11% per cent, net profit of 59.9 million U.S. dollars, an increase of 19.6%.

The Giants network's second-quarter results exceeded Wall Street's expectations, but revenue forecasts for the third quarter were disappointing and the number of active paid subscribers (APA) was worse than expected.

Jaffray, Merrill Lynch, Bank of America, Morgan Stanley and other investment institutions to maintain the giant network overweight rating, raised the target share price; The CLSA giant network is weaker than the broader market rating, and believes that the giant network is developing new games without too many bright spots. (Chi)