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Stormwind Group recently released its earnings forecast for the first three quarters of 2017. According to the report, the company expects revenue to reach 1.174 billion yuan during the period from January 1 to September 30, 2017, representing a growth of 30% to 60% compared to 890 million yuan in the same period last year.
The net profit attributable to shareholders is estimated to be between 193.51 million and 232.21 million yuan, marking an increase of 0% to 20% compared to 193.51 million yuan in the previous year. The company also noted that non-recurring gains and losses amounted to approximately 16 to 18 million yuan during the period.
Looking specifically at the third quarter, which ran from July 1 to September 30, 2017, the net profit for shareholders is expected to range from 362.61 million to 774.96 million yuan, a significant jump of 644% to 1437% compared to 487,600 yuan in the same quarter last year.
Stormwind Group attributed this strong performance to the substantial growth in the Internet TV business of its subsidiary, Shenzhen Storm Commander Technology Co., Ltd., which saw an increase of over 80% in revenue compared to the same period last year. The rise in net profit was primarily driven by increased sales of Internet TV products and a higher gross profit margin.
This forecast reflects the company's continued expansion and success in the digital entertainment sector, as it continues to capitalize on the growing demand for online content and streaming services. Investors are likely watching closely as Stormwind positions itself for further growth in the coming quarters.