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May 12, 2017

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NetEase’s Q1 earnings soar 62.6%

CHINESE online gaming and news portal NetEase said yesterday that first-quarter profit surged 62.6 percent to 4.3 billion yuan (US$623 million) due to its diverse and strong mobile game portfolio.

The company’s online game revenue soared 78.5 percent year on year to 10.7 billion yuan in the first three months, an exchange filing said.

The revenue contribution from mobile gaming rose to 73.3 percent from 63.7 percent a year earlier.

NetEase’s total revenue surged 72.3 percent year on year to 13.64 billion yuan in the three months ended on March 31.

“Our strong first-quarter results were led by our self-developed mobile games as we continued to bring innovative content to our massive audience,” William Ding, chief executive officer of NetEase, said in a statement.

The company’s revenues from e-mail, e-commerce and others rose 63 percent to 2.46 billion yuan in the quarter.



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