Netease Q1 2009 Net Profit Up 55%

Netease, 5/20/09

Chinese Internet and online game service provider Netease (Nasdaq: NTES) has announced its unaudited financial results for Q1 2009, with total revenues reaching RMB 781.7 mln (USD 114.4 mln), up 19.91% year-on-year, but down 2.50% quarter-on-quarter.

Net income for the quarter came to RMB 416.7 mln (USD 61.0 mln), up 54.71% YoY, but down 27.63% QoQ.

Revenues for the quarter from online games were RMB 724.0 mln (USD 106.0 mln), up 30.25% YoY and 7.66% QoQ. Revenues from advertising services were RMB 41.0 mln (USD 6.0 mln), down 46.81% YoY and 63.30% QoQ. Revenues from wireless value-added services (WVAS) and other services were RMB 16.6 mln (USD 2.4 mln), down 12.04% YoY and 4.5% QoQ.

To see Netease's full earnings report, please click here.

Keywords: online advertising Internet Netease NTES Q1 2009 WVAS fiscal report online gaming profit revenue

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