HANGZHOU, China, May 11, 2017 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES) one of China's leading Internet and online game services providers, today announced its unaudited financial results for the first quarter ended March 31, 2017.
NetEase led the industry with stunning results in the first quarter with total net revenues of RMB13.6 billion (US$2.0 billion), an increase of 72.3% compared with the same period last year. With a diverse and robust mobile game portfolio that delivers excellent results, net revenues for online games reached RMB10.7 billion (US$1.6 billion), an increase of 78.5% compared to the same period last year. Gross profit came in at a solid RMB7.5 billion (US$1.1 billion), an increase of 63.2% year-over-year.
The Company's latest blockbuster title, Onmyoji garnered over 200 million downloads worldwide and ranked Best Mobile Game 2016, along with Pokemon Go and Clash Royale in the Games of the Year rankings by Facebook, Onmyoji. Meanwhile, the international PC version of Onmyoji in traditional Chinese made its debut on Facebook Gameroom in recent FBF8 conference. All-time blockbuster mobile game favorites such as Fantasy Westward Journey, Ghost, and Westward Journey continued their popularity and ranked among the top 10 highest grossing mobile games in China's iOS App Store. In addition, Netease Games announced the release of Minecraft's Chinese closed beta at Beijing's massive water cube. The Company also released new mobile games including Land of Glory, Mist World, and Demon Seals, all of which had excellent reception.
NetEase continues to accelerate its international expansion by creating new immersive and global gameplay experiences. In addition to existing titles such as Tome of the Sun, Eternal Arena, and Twilight Pioneers on the Google VR platform, in January, NetEase released Immortal Conquest - a MMO strategy war game, in which players build and manage their own cities, expand on over 2 million pieces of land, and align with other players to conquer the world. In February, NetEase's self-developed PC game Revelation was released in Europe and the U.S., and is a Chinese mythical fantasy game with CG-like in-game graphics. In addition, the latest title Crusaders of Light delivers an authentic PC-quality MMORPG experience for mobile phones and tablets, within a stunning and open 3D fantasy world filled with luscious landscapes, treacherous dungeons, and coveted loot. The game is now in soft launch in limited countries while the international launch is coming soon over the summer.
About NetEase
NetEase, Inc. (NASDAQ: NTES) is a leading internet technology company in China. Dedicated to providing online services centered around content, community, communication and commerce, NetEase develops and operates some of China's most popular PC-client and mobile games, advertising services, e-mail services and e-commerce platforms. In partnership with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers, NetEase also operates some of the most popular international online games in China. For more information, please visit: http://ir.netease.com/.
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