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NetEase sees revenue growth in Q1

NetEase sees revenue growth in Q1

Thu 15 May 2014 1:24pm GMT / 9:24am EDT / 6:24am PDT
PublishingDevelopment

Profit remains flat, but a deal to operate Blizzard's Heroes of the Storm should fix that

The Chinese online game publisher NetEase continued its hot streak with another quarter of revenue growth.

For the first calendar quarter, ended March 31 2014, the company earned CNĄ2.5 billion ($405 million), up from CNĄ2.3 billion in the same quarter last year. However, net profit for the quarter was CNĄ1.1 billion ($181 million), the same amount as the first quarter of last year.

The company's online games division contributed the vast majority of revenue - CNĄ2.2 billion ($347 million), versus CNĄ2 billion the prior year - and given its ongoing partnership with Blizzard. which started in 2008, that's hardly a surprise.

In addition to its many other titles, NetEase operates World of Warcraft, StarCraft II and Hearthstone: Heroes of Warcraft in China. In April this year, it announced a deal to operate Blizzard's forthcoming MOBA, Heroes of the Storm.

Last financial year, NetEase turned a profit of almost $735 million.

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