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NetEase sees 1.7% drop in Q3 net profit
By Zhu Shenshen |
November 16, 2012, Friday
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Print Edition
Print Edition
NET profit at NetEase.com Inc fell 1.7 percent in the third quarter, ending the company's double-digit growth in the past two years.
NetEase posted a net profit of 819 million yuan (US$130 million), a drop from the 828 million-yuan net income a year ago, the firm said yesterday.
The revenue rose 1.9 percent to 2.04 billion yuan, below analysts' estimates of US$334 million.
But online game revenue at NetEase, which operates popular game titles like the World of WarCraft, shed 0.9 percent while its advertising income grew 10 percent annually.
NetEase is closely eying opportunities to move from online games to mobile games, according to Ding Lei, chairman and founder of NetEase.
Meanwhile, Tencent Holdings Ltd's net profit jumped 32 percent in the third quarter on rising Internet value-added income, it said on Wednesday.
NetEase posted a net profit of 819 million yuan (US$130 million), a drop from the 828 million-yuan net income a year ago, the firm said yesterday.
The revenue rose 1.9 percent to 2.04 billion yuan, below analysts' estimates of US$334 million.
But online game revenue at NetEase, which operates popular game titles like the World of WarCraft, shed 0.9 percent while its advertising income grew 10 percent annually.
NetEase is closely eying opportunities to move from online games to mobile games, according to Ding Lei, chairman and founder of NetEase.
Meanwhile, Tencent Holdings Ltd's net profit jumped 32 percent in the third quarter on rising Internet value-added income, it said on Wednesday.
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