NetEase reports a 6.9% rise in gaming revenue to RMB 25.7 billion ($3.7 billion) during the first quarter, with 97.5% coming from online games.
NetEase published its Q1 financial results, showing a 6.9% increase in gaming revenue to RMB 25.7 billion ($3.7 billion) and a 6.1% rise in overall revenue to RMB 30.6 billion ($4.4 billion). The majority of the gaming segment's net revenue, 97.5%, was generated from online game operations. Sales were boosted by self-developed titles like Fantasy Westward Journey, Where Winds Meet, Identity V, Eggy Party, and Sword of Justice due to regular content updates and gameplay innovation.
NetEase also saw expanded global launches for Where Winds Meet and Marvel Rivals, alongside maintaining operations of Blizzard titles in China with frequent localized content. CEO William Ding highlighted a strong quarter for their gaming portfolio and emphasized the company's focus on international expansion. NetEase aims to enhance technological capabilities, innovate in content and development, and create exceptional experiences for players worldwide.
In other news, NetEase announced the cessation of funding for Nagoshi Studio, the developer of Gang of Dragon, citing additional funding requirements of at least ¥7 billion ($44.4 million) to complete the studio's debut title.
