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Online game operator NetEase records 26% jump in Q4 profits
By Ding Yining |
February 16, 2012, Thursday
|
Online Edition
Online Edition
CHINESE online game operator and news portal NetEase Inc announced a 26 percent jump in fourth quarter profit because of increasing revenue.
Earnings in the three months ending December 31 rose 26 percent to 898.6 million yuan (US$142.8 million), according to a company filing yesterday.
NetEase is licensed to run Activision Blizzard Inc's role-play game "World of Warcraft" on the Chinese mainland as well as its self-developed games such as "Westward Journey."
William Ding, chief executive officer and director of NetEase, said in a conference call after the release of earnings that income from "War of Warcraft" had slipped in the last quarter, but was offset by a revenue increase from its self-developed games.
He added that the company will continue to step up investment in the development of innovative online games.
Sales rose 32 percent to 2.1 billion yuan (US$341 million), and online advertising income and sales from gaming operations each grew 28.9 and 19.2 annually.
Its full year revenue jumped 31.5 percent from that of 2010 to 7.5 billion yuan and profit surged 45 percent to 3.2 billion yuan.
Earnings in the three months ending December 31 rose 26 percent to 898.6 million yuan (US$142.8 million), according to a company filing yesterday.
NetEase is licensed to run Activision Blizzard Inc's role-play game "World of Warcraft" on the Chinese mainland as well as its self-developed games such as "Westward Journey."
William Ding, chief executive officer and director of NetEase, said in a conference call after the release of earnings that income from "War of Warcraft" had slipped in the last quarter, but was offset by a revenue increase from its self-developed games.
He added that the company will continue to step up investment in the development of innovative online games.
Sales rose 32 percent to 2.1 billion yuan (US$341 million), and online advertising income and sales from gaming operations each grew 28.9 and 19.2 annually.
Its full year revenue jumped 31.5 percent from that of 2010 to 7.5 billion yuan and profit surged 45 percent to 3.2 billion yuan.
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