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NetEase Q2 earnings beat expectations with online game services reversing downtrend
CKN
2018/08/09 06:25:20
154

Aug 09, 2018 (China Knowledge) - Nasdaq-listed NetEase, China's Internet giant and leading online game provider, announced on Wednesday its Q2 financial results ended June 30, 2018.

The Guangzhou-headquartered company post a revenue of USD 2.46 billion for the Q2, beating analysts' estimates. Its online game services net revenues in Q2 surged 6.7% YoY to USD 1.5 billion, reversing downtrend in the last two quarters. Its E-commerce net revenues maintained strong momentum, surging 75.2% YoY to hit USD 659.7 million. Its diluted earnings were USD 2.44 per ADS and non-GAAP diluted earnings at USD 3.15 per ADS. NetEase stock jumped as much as 3% on Wednesday on great earnings.

Multiple NetEase mobile games have gone viral in both domestic and overseas markets, making its game businesses return to growth in Q2. Since it unveiled the Chinese version Minecraft at the end of 2017, total registered players for the game has reached 100 million. Its widely-recognized game Wilderness Action topped Japan's most popular iOS Apps since its release in June 2018.

Founded in 1997, NetEase has become one of world's largest Internet and mobile games companies. It has produced some of the most popular online games in China, including Westward Journey series, Tianxia III, Heroes of Tang Dynasty Zero and Ghost II. Thanks to its partnership with several world's top game giants, Netease also operates some international online games in mainland China, including World of Warcraft, Hearthstone, StarCraft II, Diablo III: Reaper of Souls and Overwatch.

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