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Ad sales fall but NetEase net rises 55%
By Ding Yining |
May 22, 2009, Friday
|
Print Edition
Print Edition
ALTHOUGH its online advertising revenue dropped in the first quarter of this year, NetEase Inc reported a more than 50 percent jump in net profit as its online game sector performed strongly.
The Internet and online game portal said profit for the first three months totaled US$61 million, or 47 cents per share, an increase of 55 percent from a year ago.
Although online advertising revenue fell 47 percent to US$6 million, online games contributed US$106 million, up 30 percent from a year earlier, with NetEase games "Fantasy Westward Journey" and "Westward Journey Online" boosting the firm's game revenue.
Total revenue was US$114.4 million, a jump of 20 percent from a year ago.
William Ding, CEO and director of NetEase, said the drop in its advertising income is just temporary.
The Internet and online game portal said profit for the first three months totaled US$61 million, or 47 cents per share, an increase of 55 percent from a year ago.
Although online advertising revenue fell 47 percent to US$6 million, online games contributed US$106 million, up 30 percent from a year earlier, with NetEase games "Fantasy Westward Journey" and "Westward Journey Online" boosting the firm's game revenue.
Total revenue was US$114.4 million, a jump of 20 percent from a year ago.
William Ding, CEO and director of NetEase, said the drop in its advertising income is just temporary.
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