NetEase Second-Quarter Profit Rises 3.8%

Net income increased to 485.7 million yuan ($71.6 million) from 468.1 million yuan a year earlier. Sales rose 54 percent to 1.35 billion yuan.

NetEase offered new games such as ?Heroes of Tang Dynasty? last quarter to meet rising competition from Tencent Holdings Ltd. and Shanda Games Ltd. in China?s $4 billion online-games market. The Beijing-based company won regulatory approval this month to offer an upgrade to its ?World of Warcraft? game, which may boost subscribers to the title by a third next year, according to UBS AG estimates. The upgrade will help NetEase win users of rival games, including Shanda?s ?Aion,? UBS?s Gary Ngan wrote in a report last month.

Revenue from online games advanced 51 percent to 1.18 billion yuan in the quarter, NetEase said. Sales from online advertising doubled, reaching 145.9 million yuan.
?World of Warcraft,? a multiplayer, role-playing game developed by Activision Blizzard Inc., accounted for about 30 percent of NetEase?s sales in the first quarter, according to estimates from IResearch.

Source : Konaxis

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