NetEase Q1 2017 net revenues up 72% YoY

NetEase, Inc. (NASDAQ: NTES), one of China´s Internet and online game services providers, has announced its unaudited financial results for the first quarter ended March 31, 2017, the company said.

NetEase logged total net revenues in the quarter of RMB 13.6bn (USD 2.0bn), an increase of 72.3% compared with the same period last year.

Net revenues for online games reached RMB 10.7bn (USD 1.6bn), an increase of 78.5% compared to the same period last year. Gross profit came in at a solid RMB7.5bn (USD 1.1bn), an increase of 63.2% year-over-year.

NetEase is an Internet technology company in China. Dedicated to providing online services centered around content, community, communication and commerce, NetEase develops and operates some of China´s most popular PC-client and mobile games, advertising services, e-mail services and e-commerce platforms. In partnership with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers, NetEase also operates some of the most popular international online games in China.