NetEase taps online gaming to lift profit
Print Edition
CHINESE online game operator NetEase said yesterday that online gaming income lifted its profit in the second quarter by 9 percent from a year ago to 1.2 billion yuan (US$195 million).
Revenue in the three months ended on June 30 jumped 22 percent to 2.95 billion yuan.
Online gaming income, the biggest contributor to its total revenue, added 13 percent while online advertising sales jumped 43 percent on World Cup-related online campaigns, the Nasdaq-listed company said in a stock exchange filing yesterday.
“Our sales growth was supported by both self-developed and licensed games and the popularity of our flagship games on both desktop and mobile platforms,” said William Ding, chief executive officer of NetEase.
The firm operates the popular World of Warcraft, StarCraft and Diablo franchise games on China’s mainland under a license with Activision Blizzard Inc, as well as its self-developed games like Legend of Fairy and Fantasy Westward Journey.
In the second quarter, China’s online gaming market added 28 percent from a year ago to 26 billion yuan, according to Internet consultancy Analysys International.
NetEase plans to add an online payment system to its social messaging platform Yixin, which was launched last year through a joint venture with China Telecom.
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