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NetEase sees FY13 Q3 sales up 23% to $410 million

Fantasy Westward Journey II leads the way
NetEase sees FY13 Q3 sales up 23% to $410 million

Chinese internet company NetEase (NASDAQ:NTES) has announced its unaudited financial results for the third quarter ended September 30, 2013.

Total revenues were $410 million (RMB 2.5 billion), up 23 percent year-on-year.

Online and mobile games consisted of 84 percent of total revenues; up 21 percent year-on-year.

Net profit was $171 million (RMB 1 billion), up 23 percent.

From web to mobile

In terms of its mobile game performance, CEO William Ding pointed to the release of a mobile version of its successful web game Fantasy Westward Journey II.

"This pocket mobile version has extended the reach of our game from the PC to mobile platforms, and user feedback continues to be favorable," he said.

As well as Chinese-developed MMOGs such as Heroes of Tang Dynasty II, Heroes of Three Kingdoms and Dragon Sword, NetEase also works with the likes of Blizzard to operate the Chinese versions of World of Warcraft and the forthcoming Hearthstone: Heroes of Warcraft.

We can chat too

Aside from games, NetEase, together with China Telecom, recently launched its YiChat messaging app, which has reached 30 million users in three months.

"We see a great opportunity to integrate and expand our traditional online games and services with complementary mobile Internet offerings that broaden our customer base. We will continue to develop our mobile social networking platform and introduce new products and games to support this strategy," Ding concluded.

The company ended the quarter with cash and short-term investments worth $2.8 billion.

[source: NetEase]