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Finance

NetEase exceeds expectations with Q4 financials

Thu 24 Feb 2011 1:49pm GMT / 8:49am EST / 5:49am PST
Emerging MarketsFinance

Chinese WoW publisher pulls $254m in quarterly revenue, profit of $168.7m

NetEase, the Chinese MMO specialist which publishes World of Warcraft in China, has posted its Q4, 2010 financial results, recording a quarterly revenue of $254 million and gross profits of $168.7 million. Netease's Q4 finished on December 31, 2010.

That translates across the year as revenues of $857.5 million and gross profits of $562 million. Operating income for the quarter was $120.1 million and $385.5 million for the year.

Online gaming has been the major contributor to the gains, with a rise in ad revenues also helping. World of Warcraft is the company's most profitable property.

The positive quarter continues an excellent year for the operator, with FY2011 guidance raised as a result. The current financial year should also see the release of Warcraft expansion Cataclysm in China too, which boosted Activision Blizzard's financial report considerably.

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