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NetEase Reports Solid Second Quarter 2017 Financial Results

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By hearstDate: Aug 10 2017 Views:

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On August 10th, NetEase reported solid second quarter 2017 financial results. Net revenues were US$2.0 billion, up 49.4% year-over-year and net income was US$438.4 million, up 9.2% year-over-year. NetEase Games led top line growth, generating US$1.4 billion in revenue, up 46.5% year-over-year.

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NetEase mobile games such as Onmyoji and the mobile version of New Ghost were the main drivers behind the year-over-year growth in quarterly revenues. Other mobile games such as The Westward Journey Mobile, Land of Glory, Tang Dynasty Warriors Mobile, Demon Seals, and Tianxia Mobile continue to gain tractions with recently released new content and expansion packs. In addition, NetEase’s flagship PC game Fantasy Westward Journey Online and mobile game Invincible stand strong with record revenues achieved during the second quarter.

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At the Company’s annual press conference in May of this year, NetEase announced plans for upgrading seven major games and also announced testing plans for six new highly anticipated games. The Company showcased previews of 13 new mobile games and announced an exclusive licensing agreement and the first NetEase Games membership platform. 


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