• CYOU2016-01-27

    CYOU: 4Q15 Results May Be In Line; Guidance for 1Q16 May Be Below; No New Drivers for Growth; Maintain Hold

    CYOU will report 4Q15 results on Monday, February 1st before the markets open with a 7am EST conference call. In the near term, we don’t see any excitement in its game pipeline and results may lack upside. As such, we expect 4Q15 results to be at most in line with consensus. We believe that the company is going through another hurdle as it struggles to find a sustainable long term growth driver. While CYOU appeared to find some significant momentum in its mobile games in late 2014 and early 2015……

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  • CYOU2015-10-23

    CYOU: Expect In Line 3Q15 Results; No New Drivers for Growth; Maintain Hold

    CYOU will report 3Q15 results on Monday, October 26th before the markets open with a 7am EST conference call. We believe the quarter may be at the best in line with consensus. For the last couple of quarters, CYOU seemed to be making positive progress in mobile games development; however, its newer mobile games are performing lower than expected. For the near term, we believe CYOU may continue to stagnate as it refines its game development. As such, we maintain our Hold rating as CYOU still need……

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  • CYOU2015-07-24

    CYOU: Mobile Games to Drive 2Q15 Results; Maintain Hold

    CYOU will report 2Q15 results on Monday, July 27th before the market open with a 7am EST conference call. We believe the quarter may be in line with consensus driven largely by strong growth of the company’s mobile games, while its MMO segment is stable with flat server growth coupled with slight ACU decline. Over the last few quarters, CYOU has been dedicating a lot of resources and focus on this area. However, to maintain leadership in mobile games, CYOU needs more than one or two hit games; i……

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  • CYOU2015-04-28

    CYOU: Mobile Drives Growth, but Not Enough to Offset MMO Slowdown; Maintain Hold

    CYOU reported 1Q15 results that significantly outperformed consensus expectations. For 2Q15 guidance, CYOU guided revenue below the Street due to the slowdown in TLBB as a result of lower marketing promotions in 2Q15 and divestiture of 7Road, whose revenue will not be factored into guidance. Currently, CYOU is still struggling to find long term sustainable growth as its MMO games age and newer MMO and mobile games are not generating enough revenue to offset such slowdown. As such, we maintain ou……

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  • CYOU2015-02-05

    CYOU: Mobile Drives Growth; Maintain Hold

    CYOU will report 4Q14 results on Monday, February 9th before the markets open with a 7am EST call. Even though we believe the Street at 12.8% Q/Q top line growth may seem aggressive as it is even higher than the company’s guidance, we believe it is doable as CYOU’s mobile games took off in 4Q14, which may well offset the weakness of its PC and web games. Our data shows weakness in PC MMO games, but strong mobile games performance. In terms of 1Q15 guidance, we believe CYOU is likely to guide in ……

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  • CYOU2014-12-24

    CYOU: T. H. Data Flash – Changyou.com Ltd. – December 2014: Strong Momentum in Mobile Games; Weaker In TLBB; Maintain Hold

    To cope with the decline of CYOU’s MMO games, the company is focusing on mobile games to drive growth. The results are showing thus far. According to our proprietary data, the company’s mobile game downloads experienced strong pickups in the period of 10/1/2014-12/10/2014. However, its major MMO game, TLBB showed decline. At this point, we believe CYOU’s mobile initiatives are still in a relative early stage and may not be able to offset the decline as well as bring additional upside. As such, w……

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  • CYOU2014-10-28

    CYOU: Expect In Line 3Q14 Results; 4Q14 Guidance May Be Weaker; Maintain Hold

    CYOU will report 3Q14 results on November 3rd before the markets open with a 7am ET call. We believe CYOU is highly likely to report 3Q results in line with consensus, as our data shows weakness in both MMO and web games. While mobile games could be strong, they may not be able to offset the decline or bring additional upside to current consensus. For 4Q14 guidance, the current consensus at $199.26M may be aggressive. In terms of the bottom line, CYOU has been actively investing in R&D and m……

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  • CYOU2014-02-19

    Challenges Facing Old MMO Games and Web Games

    T. H. Data Flash – Changyou.com Ltd. (CYOU) – January 2014  Challenges Facing Old MMO Games and Web GamesJanuary 1, 2014 - January 25, 2014 Operating Data Highlights:·  Popularity level of MMO games could slightly increase about 0.2% Q/Q  (Figure 1). This could be due to the flat performance of TLBB (Tian Long Ba Bu) Q/Q.  ·  Slightly up in the number of servers of MMO games – By 01/25/2014, there could be 1 additional server added for TLBB and DMD, which led to 880 tota……

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  • CYOU2014-02-19

    Changyou.com Ltd.- December 2013

    T. H. Data Flash – Changyou.com Ltd. – December 2013    Challenges in Old MMO Games and Web Games October 1, 2013 - December 25, 2013 Operating Data Highlights:Data in this report is extracted from publicly available sources and processed with our proprietary methodology.·  Popularity level of CYOU’s MMO games could experience a decline of about 5.7% Q/Q (Figure 1), possibly driven by the weakness in TLBB (Tian Long Ba Bu).  ·  Slightly up in the number of servers of MMO……

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  • CYOU700-HKQIHU2013-12-27

    China Mobile Internet - Mobile Games, November 2013

    T. H. Data Flash – China Mobile Internet - Mobile Games, November 2013    Emerging Market Far From Being Settled; Ramping Up From Early Stage  November 2013 Operating Data Highlights:Data in this report is extracted from publicly available sources and processed with our proprietary methodology.·  Fragmented market with thousands of games – The industry is highly fragmented with thousands of games in each of the major Android stores in China. By 11/25/2013, total number of mob……

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