NetEase has Solid Q3 Revenue Growth
For the third quarter of fiscal 2022 that ended 9/30/22 NetEase (NASDAQ: NTES) revenue increased 10% to RMB 24.4 billion ($3.4 billion) with games up 9.1% to RMB 18.7 billion ($2.6 billion) over Q3 2021. For the first nine months of 2022, revenue was up 13% to RMD 71.1 billion ($9.9 billion).
Analysis
Games and their related services accounted for 77% of NetEase’s revenue in the third quarter. Mobile games accounted for 69% of game revenue with PC and console games t.....