According to its financial report, NetEase made US$117.5 million in total fourth-quarter revenues, and gaming revenue increased more than 32 per cent year-on-year.
Compared with its third quarter, both NetEase’s total revenue and gaming revenue dropped, but the two figures represented dips of less than one per cent.
Compared with its third quarter, both NetEase’s total revenue and gaming revenue dropped, but the two figures represented dips of less than one per cent.
NetEase, which is China’s second-largest gaming developer after Shanda Interactive, attributed much of its bolstered fourth-quarter earnings to a 14 per cent increase in ad sales and the launch of several MMORPG games.
The company also improved its figures from 2007 to 2008 as a whole, reporting a 29 per cent increase in total revenues to US$436.2 million from US$338 million. Meanwhile, advertising services rose 33 per cent to US$59.5 million and net profit was up more than 26 per cent.
On a separate note, NetEase announced the sudden departure of co-COO Michael Tong, effective next month. His duties will be assumed by CEO William Ding.
Meanwhile, Shanda also posted a 42 per cent year-on-year increase in net revenue to US$148.5 million in its fourth quarter of 2008, and a 17 per cent rise in net income to $50.1 million during the same period.
Both these figures rose from Shanda’s third quarter of 2008, by 8.4 per cent for net revenue and 1.7 per cent for net income.
Like NetEases’s findings, Shanda saw a rise in MMORPG revenues, by more than 45 per cent from 2007 and more than 13 per cent from the third quarter.
Shanda also reported spiked earnings for the full year, hitting $522.2 million – a more than 44 per cent increase from 2007.
In this figure, MMORPG revenue rose 46 per cent to $436.4 million.
