Netease reports profits boost
Chinese internet company NetEase has recorded a 25% rise in second-quarter earnings as it continues to thrive on its online gaming base in the country.
The company posted a profit of Y1.1 billion (€137.5 million/$179.2 million) for the three months through to the end of June – up from Y875.3 million in the second quarter of 2012.
Netease’s online games service was the biggest contributor to the top line with an increase of 18%.
The firm earns most of its profit from internet gaming through titles such as Tianxia and Heroes of Tang Dynasty – both of which have a strong fan base in China. It also operates the popular World of Warcraft game in the country under a licence with Activision Blizzard.