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Netease reports 9% growth in Q2 profit, eyes online payment business
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CHINESE online game operator NetEase said profit in the second quarter rose 9 percent from a year ago to 1.2 billion yuan (US$194 million) on an increase in online gaming incomes.
Revenue in the three months ended June 30 jumped 22 percent to 2.95 billion yuan.
Sales of online games, the biggest contributor to its total revenue, added 13 percent while online advertising income rose 43 percent due to World Cup-related online campaigns, the Nasdaq-listed company said in a stock exchange filing today.
¡°Our sales growth was supported by both self-developed and licensed games and the popularity of our flagship game on both desktop games and mobile platforms continued to enjoy popularity," said William Ding, Chief Executive Officer and Director of NetEase.
The company plans to add an online payment system to its social messaging platform Yixin on top of online games and other value-added services.
Yixin was launched last year through a joint venture with China Telecom as NetEase was eager to catch up with rivals Alibaba and Tencent to offer entertaining and transaction platforms on the mobile Internet.
Recent social networking functions at Yixin include a community knowledge platform and social carpooling service.
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