Chinese online game operator The9 (NCTY) says its unaudited financial results for the first quarter ended March 31, 2007 show net revenues for the first quarter of 2007 decreased by 4% quarter-over-quarter and increased 27% year-over-year to CNY270.0 million.

Net income for the first quarter of 2007 was CNY66.1 million, a 37% decrease from CNY105.1 million in the fourth quarter of 2006, and a 12% increase from CNY58.8 million in the first quarter of 2006. Net revenues attributable to the operations of Blizzard Entertainment's World of Warcraft decreased by 5% quarter-over-quarter and increased 27% year-over-year to CNY266.3 million in the first quarter of 2007.

EBITDA was CNY117.7 million in the first quarter of 2007, a quarter-over-quarter decrease of 20% from CNY146.6 million in the fourth quarter of 2006, and a year-over-year increase of 18% from CNY99.6 million in the first quarter of 2006.

Fully diluted earnings per share were CNY2.65 for the first quarter of 2007, compared with CNY4.25 for the fourth quarter of 2006, and CNY2.42 for the first quarter of 2006.