NetEase experiences a strong third quarter with $2.7 billion in revenue | Pocket

Chinese tech giant NetEase was up 27.5 per cent year-on-year in Q3 2020 as it generated ¥18.7 billion ($2.7 billion).

Furthermore, the company had a gross profit of ¥9.9 billion ($1.5 billion) for the quarter ending September 30th. It represents a growth of 25.6 per cent year-over-year.

Meanwhile looking at online games services net revenue, under which mobile falls, NetEase generated ¥13.9 billion ($2 billion), an increase of 20.2 per cent year-on-year.

NetEase has attributed various mobile titles as drivers to its success. During Q3, the company introduced its card game Marvel Duel to overseas markets, and it also launched EVE Echoes internationally.

On top of that, various titles entered beta or soft-launch, such as Harry Potter: Magic Awakened and The Lord of the Rings: Rise to War.

Steady quarter

“With strong and steady contributions from our online game services, our total net revenues for the third quarter reached ¥18.7 billion, an increase of 27.5 per cent year-over-year,” said NetEase CEO and director William Ding.

“The strength of our games business is bolstered by our diverse and growing game portfolio with impressive longevity. Additionally, our robust pipeline of games ready for launch is hugely exciting, and we cannot wait to unveil our game sensations across multiple genres to both domestic and global players in the coming quarters.”

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