Shares in Nasdaq-listed Shanda Interactive Entertainment fell 19% in after-hours trade after China's biggest online games company announced a fourth quarter loss and falling revenues, the Financial Times reported. Shanda's fourth quarter revenues declined 28% compared with the previous three months to US$45 million, while its third quarter profit of US$32.47 million was followed by a loss of US$67.05 million. Shanda's results, which contrast sharply with the growing sales and profits of fellow Nasdaq-listed rivals Netease.com and The9, were its first since scrapping subscription charges for three of its massively multiplayer online role playing games (MMORPGs) in December. Shares in the company have fallen from over US$40 in mid-2005 to US$17 on Monday as it seeks to diversify into TV set-top boxes and personal computer-based entertainment centers.
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