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Japan success helps propel NetEase sales to $2.7 billion in Q1 2019

Chinese publishing giant also knocking it out the park at home
Japan success helps propel NetEase sales to $2.7 billion in Q1 2019

Net revenue for Chinese games publishing giant NetEase increased 29.5 per cent year-on-year to ¥18.35 billion ($2.7bn) in Q1 2019.

Gross profit meanwhile rose by 35.9 per cent to ¥8bn ($1.2bn) for the quarter.

Sales for the company’s online game services increased 35.3 per cent to ¥11.85bn ($1.76bn). Gross profit for this division was up 38.6 per cent to ¥7.5bn ($1.1bn).

Mobile game revenue accounted for approximately 72.1 per cent of online game sales, compared to 71.8 per cent the year prior.

Star games

NetEase put the increase revenue down to mobile games such as Night Falls: Survival, Invincible, Knights Out and Identity V, as well as PC title Justice, amongst others.

There were “sustained steady performances” for its flagship games Fantasy Westward Journey and New Westward Journey Online.

NetEase also highlighted success in Japan, where battle royale hit Knives Out is a consistent top grosser.

Identity V also was said to have reached the top five grossing positions for the first time in April, while last month's new launches in the country Night Falls: Survival and Cyber Hunter topped the download rankings.

These of course fall outside of the Q1 financials but show a positive outlook for Q2 in NetEase's business in Japan.