Chinese online game development firm Perfect World (PWRD) has released its results for the third quarter ended September 30, 2008.

Total revenues were CNY381.8 million in the quarter, an increase of 14.2% in the previous quarter and a 78.5% increase in the third quarter of 2007. Online game operation revenues were CNY324.5 million, an increase of 8.4% from the second quarter of 2007.

Overseas licensing revenues got a boost to CNY57.3 million for the quarter, an increase of 63.7% pover the previous quarter.

The cost of revenues was CNY47.3 million in the third quarter, an increase of 14.9%, or CNY6.1 million, from CNY41.1 million in the previous quarter and an increase of 33.5%, or CNY11.9 million, from CNY35.4 million in the third quarter of 2007. The increase from the second quarter was mainly due to an increase in VAT and other related taxes, and an increase in staff costs in connection with the company's U.S. and Beijing operation.