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Netease Q4 2009 Net Profit Down 1% YoY

Netease PR, 2/25/10

Chinese internet company Netease (Nasdaq: NTES) has announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2009, with total revenues for the fourth quarter reaching RMB 1.3 bln (USD 189 mln), up 62.2% YoY from RMB 801.7 mln in Q4 2008 and up 47.8% from RMB 879.4 mln in Q3 2009.

Revenues from online games were RMB 1.1 bln (USD 159.4 mln) in Q4 2009, up 63.6% YoY from RMB 672.5 mln in Q4 2008 and up 41.9% from RMB 775.1 mln in Q3 2009.

Revenues from advertising services in Q4 2009 were RMB 183.7 mln (USD 26.9 mln), up 64.3% YoY compared to RMB 111.8 mln in Q4 2008 and up 113.6% compared to RMB 86 mln in Q3 2009.

Revenues from wireless value-added services and others were RMB 18.5 mln (USD 2.7 mln) in Q4 2009, up 6.3% YoY compared to Q4 2008 and up 1% from RMB 18.3 mln in Q3 2009.

Net profit for the fourth quarter of 2009 totaled RMB 571.8 mln (USD 83.8 mln), down 0.7% from RMB 575.9 mln in Q4 2008 and up 45.2% YoY compared to RMB 393.8 mln in Q3 2009.

Total revenues for fiscal year 2009 were RMB 3.8 bln (USD 560.1 mln), up 26.6% YoY compared to RMB 3.0 bln for the preceding fiscal year. Revenues from online games were RMB 3.4 bln (USD 493.5 mln) for fiscal year 2009, up 36% YoY compared to RMB 2.5 bln in 2008. Revenues from advertising services were RMB 383.6 mln (USD 56.2 mln) for fiscal year 2009, down 5.5% YoY compared to RMB 405.9 mln for the preceding fiscal year. Revenues from WVAS and others were RMB 71.2 mln (USD 10.4 mln) for fiscal year 2009, down 0.7% YoY compared to RMB 71.7 mln in 2008.

Net profit for fiscal year 2009 totaled RMB 1.9 bln (USD 271.1 mln), up 18.75% YoY compared to RMB 1.6 bln for the preceding fiscal year.

Keywords: Netease Internet profit wireless Q4 2009 WVAS advertising NTES online gaming revenue fiscal report

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