NetEase exceeds expectations with Q4 financials
Chinese WoW publisher pulls $254m in quarterly revenue, profit of $168.7m
NetEase, the Chinese MMO specialist which publishes World of Warcraft in China, has posted its Q4, 2010 financial results, recording a quarterly revenue of $254 million and gross profits of $168.7 million. Netease's Q4 finished on December 31, 2010.
That translates across the year as revenues of $857.5 million and gross profits of $562 million. Operating income for the quarter was $120.1 million and $385.5 million for the year.
Online gaming has been the major contributor to the gains, with a rise in ad revenues also helping. World of Warcraft is the company's most profitable property.
The positive quarter continues an excellent year for the operator, with FY2011 guidance raised as a result. The current financial year should also see the release of Warcraft expansion Cataclysm in China too, which boosted Activision Blizzard's financial report considerably.