Mobile still nascent but NetEase sees FY14 Q2 game revenue up 8% to $377 million

Looking to diversify portfolio

Mobile still nascent but NetEase sees FY14 Q2 game revenue up 8% to $377 million
Chinese internet company NetEase (NASDAQ:NTES) has announced its 2014 Q2 financials, for the period ending 30 June 2014.

Total revenues were $476 million, up 17 percent quarter-on-quarter.

Revenue from games made up 79 percent of this total or $377 million, up 8 percent quarter-on-quarter.

Net profit was $194 million, up 10 percent.

The company ended the quarter with cash and equivalents of $3.2 billion and paid a dividend of $44 million.

Eye of the Blizzard

Most of NetEase's revenue comes from PC online games.

As well as its own titles, it operates World of Warcraft  and Heathstone  for Blizzard in China.

It is trying to get into mobile games too, though.

Mini Westward Journey  is a mobile card battle game based on one of its successful PC titles, while it also licensed Konami's World Soccer Collections  and Ninja Must Die 2  for the Chinese market.

In July, it launched NetEase Farm  and plans to release more internally-developed mobile games over the coming months.

In addition, it has its own social messaging platform - YiChat - which has an integrated game center for discovery and social interaction. NetEase said the early integration of Ninja Must Die 2  with YiChat was "well received".

[source: NetEase]

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A Pocket Gamer co-founder, Jon is Contributing Editor at which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.