GUANGZHOU, China, Nov. 20, 2015 /PRNewswire/ -- On November 12, 2015, NetEase, Inc. (NASDAQ: NTES) announced its unaudited financial results for the third quarter ended September 30, 2015. The third quarter financial results show the net revenues for the third quarter of 2015 were RMB6,672 million(US$1,050 million), with total net revenues increasing by 114.1% and 46.1%, compared with the third quarter of 2014 and the preceding quarter, respectively. Net revenues from online games were RMB5,213 million (US$820 million) for the third quarter of 2015, with total net revenues increasing by 124.5% and 42.5%, compared with the third quarter of 2014 and the preceding quarter, respectively.
The net revenues for the third quarter of 2015 nearly hit RMB6,700 million, with mobile games revenues driving new growth. NetEase's diverse genres of self-developed games, which contributed to its positive financial results for the third quarter of 2015, were highlighted at the G-STAR 2015 in South Korea. The games NetEase showcased at the global game exhibition, some new and some with deeper roots, are believed to hold strong growth potential.
NetEase Games is dedicated to delivering the highest quality of products, suitable for the game industry worldwide. NetEase is excited to launch open beta testing for Kung Fu Panda, the mobile action adventure game, on November 26, 2015. The game will be an eye-catching addition to NetEase's global IP partnership portfolio. The successful global launch of Fantasy Westward Journey 2 and Lunar Flowers, were met with positive reviews in the third quarter, and NetEase intends to continue to build on this success in the fourth quarter. NetEase pulled out all the stops with the launch of its new mobile game Eternal Arena, a game intended for the international market, which is noted as having a strong reputation and a high business value. NetEase's R&D team labored over this self-developed mobile game and it really shows in the games quality and innovation in every detail from its fight scenes, models, PC scenes and visual effects. International media, online game publishers, and users have credited the game Eternal Arena for its outstanding performance and differentiation from other games in NetEase's portfolio. NetEase expects that Eternal Arena will receive positive feedback in the international online game market.
Throughout 2015, NetEase has focused on the detailed refinement, both internally and externally, of its games to reinforce its base of high quality products. It has continued to create innovative mobile games in China, with 50 total mobile games and 11 in NetEase's portfolio being ranked in the top 100 in the iOS China app store. Externally, NetEase also actively participates in global game exhibitions where NetEase and other international companies gather for the discovery of the latest trends in the online game industry, cultural and technological interactions, collaborative strategies, exchanges and cooperation with various countries, and to establish an entertainment industry chain. With the growth of NetEase's acclaimed franchises, as well as the Company's deep experience in China's online game industry, an increasing number of international media are turning a spotlight on NetEase and their self-developed and licensed products, where NetEase's brand and reputation are continuing to gain favor.
Several of the games in NetEase's portfolio have made a breakthrough in both China and international markets. The Company's Fantasy Westward Journey mobile game has ranked multiple times in the top 10 best sellers in App Annie's global app store, as an App Annie's No.4 best ranking game ever. Shortly after its launch at the end of March, a number of prominent news outlets highlighted the success of NetEase's Fantasy Westward Journey mobile game and how the game exemplified the Company's strength as a formidable player in China's online game market. News outlets featuring NetEase included PocketGamer.biz (the world's largest mobile game publisher), Market Watch (a world-leading provider of business and financial news, Boston Globe (the No.1 American daily newspaper based in Boston), and Reuters,.
As a leading developer and operator of China's online games, NetEase holds strong brand equity with key advantages in, production, distribution, resource reserve and market share, which are on track with the continued expansion of world's gaming market.
Today, China's online game market revenue exceeds RMB10 billion according to recent report from "GameLook". The powerful corporate elite are pushing ahead and implementing "Go Global" and "Bring In" strategies. The whole game industry is on track for a healthy and bright future under the Belt and Road Initiative. NetEase Games, the online portion of the NetEase enterprise, is ready to flex its muscles on the global stage. NetEase Games has already successfully delivered a variety of high quality products across different IP, and created its own brand system in the online game industry. We are also seeing sustained strong momentum from China's online game business in the international market. NetEase's domestic online game sector is on track to expand internationally and has launched several new games for overseas audiences to a positive reception. Although its international expansion efforts are still in their infancy, NetEase is working to build on its early success to realize its vision as a worldwide games business. As a leader in China's online game industry, NetEase faces both challenges and opportunities to launch its products in the international market. NetEase still has ways to go to achieve its expansion goals on the global stage, but is making swift progress across its business lines in an increasingly large market, where there remain both international and domestic growth possibilities.
