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Netease.com's profit, revenue rise in 2Q

Wed, 08/17/2011 - 5:05pm
The Associated Press

Chinese online game and Web advertising company NetEase.com Inc. said Wednesday that its profit grew in the second quarter, aided by a surge in online game revenue amid strong demand for games like Fantasy Westward Journey, Ghost and World of Warcraft.

The Beijing-based company reported net income rose to 772.5 million yuan ($119.5 million), or 91 cents per American depositary share, for the three months ended June 30. That compares with net income of 485.7 yuan a year earlier.

Revenue rose to 1.7 billion yuan ($268.2 million), from 1.3 billion yuan in the prior-year quarter.

Analysts had expected a profit of 78 cents per American depositary share on revenue of $246.8 million, according to FactSet.

NetEase said online games revenue increased 33.6 percent from a year earlier, mainly as a result of growth in games, including Fantasy Westward Journey, Ghost, Westward Journey Online II, Tianxia II, Heroes of Tang Dynasty, and World of Warcraft.

Advertising services revenue rose 16.2 percent from a year earlier.

Management said it expects to launch expansion packs for several Fantasy Westward Journey titles in the second half of the year.

It's also preparing to release a comprehensive upgrade of Tianxia II and will continue to enhance the content of Ghost prior to the full-scale closed beta testing slated for the second half of this year.

U.S.-traded shares of NetEase rose $2.55, or 5.2 percent, to $51.85 in aftermarket trading on Wednesday. The stock added 35 cents to $49.30 during the regular session.

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