Oppenheimer Reports Strong 1Q Earnings For Changyou.com (CYOU)

Oppenheimer recently reported strong first quarter earnings for Changyou.com Ltd (NASDAQ: CYOU)

Changyou.com posted revenues greater than originally forecasted by Oppenheimer, with $97.1 million total and $92.9 million originating from online game revenue. Oppenheimer initially expected earnings of $94.1 million total with $90 million from online games. Changyou.com is also about to encounter changes, Oppenheimer explains “CYOU announced that it has signed an agreement to acquire a 68.3% interest in Shenzen 7Road for 68.3 million plus up to $32.8 million in performance incentives.”

Changyou.com has a Perform rating and a price target of $41.35.

Changyou.com closed yesterday at $43.36