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NetEase off to a strong start in 2017 with $2 billion in revenues thanks to Onmyoji

NetEase off to a strong start in 2017 with $2 billion in revenues thanks to Onmyoji

NetEase has released its financials for its Q1 FY17 for the period ending March 31st 2017.

It posted net revenues of $2 billion, up an impressive 72.3% year-on-year. Gross profit was also up to $1.1 billion, an increase of 63.2% year-on-year.

Its online games segment, which includes its mobile games, generated $1.6 billion for the quarter. This is an increase of 78.5% year-on-year, driven largely by what the company calls its "diverse and robust mobile gaming portfolio".

Heading West

NetEase pointed to Onmyoji as its flagship game, which surpassed 200 million downloads in February 2017 after launching in Japan during the quarter, as a key contributor to its revenues. It was also ranked one of the top games of 2016 by Facebook.

Other highlighted games included evergreen hit Fantasy Westward Journey, Ghost and Westward Journey. It also launched Land of Glory, Mist World and Demon Seals in the quarter, saying that the games have received an "excellent reception".

Looking ahead, NetEase is planning to release its currently soft-launched Crusaders of Light internationally in the summer of 2017. Onymoji is also due to launch in the West around this time.


Editor

Ric is the Editor of PocketGamer.biz, having started out as a Staff Writer on the site back in 2015. He received an honourable mention in both the MCV and Develop 30 Under 30 lists in 2016 and refuses to let anyone forget about it.

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