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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 …..
Blizzard and NetEase will Suspend China Game Services
Blizzard Entertainment, a division of Activision Blizzard, announced that due to the expiration of its licensing agreement with NetEase it will suspend China services of most Blizzard games on January 23, 2023. The licensing agreement has been in place since 2008 but the two companies could not come to an agreement. In its …..
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