NetEase has recently released its financial report for the first quarter, showing a 6.9% increase in gaming revenue to RMB 25.7 billion ($3.7 billion). Overall revenue has also seen a 6.1% growth, reaching RMB 30.6 billion ($4.4 billion).
The majority of the segment’s net revenue, around 97.5%, was generated from online game operations, mirroring the previous year’s results.
NetEase highlighted the success of its self-developed titles like Fantasy Westward Journey, Where Winds Meet, Identity V, Eggy Party, and Sword of Justice. The company attributed this success to regular content updates and innovative gameplay.
In addition, NetEase expanded the global presence of Where Winds Meet and Marvel Rivals, while continuing to operate Blizzard titles in China with frequent localized content updates.
CEO William Ding expressed satisfaction with the first quarter results, stating, “We continue to see strong performance in our established gaming portfolio and are making progress with new titles. Our recent global launches have been well-received, supporting our international expansion strategy.”
Ding also emphasized the company’s commitment to technological advancements and innovation in content and development to provide exceptional experiences for players worldwide.
NetEase recently announced the decision to stop funding Nagoshi Studio, the developer behind Gang of Dragon, citing the need for additional funds to complete the studio’s debut title. The decision was made after it was estimated that at least ¥7 billion ($44.4 million) would be required to finish the project.