Netease Q1 Profit Falls 10%

Netease Press Release, 5/22/08

Chinese Internet portal, wireless value-added service provider, and gaming company Netease (Nasdaq: NTES) has issued its earnings report for Q1 2008, with net revenues reaching RMB 651.9 mln (USD 93.0 mln), up 17.5% year-on-year and 4.8% quarter-on-quarter.

Net income for the quarter came to RMB 269.4 mln (USD 38.4 mln), down 10.6% YoY and 20.9% QoQ.

Revenues from online games were RMB 555.9 mln (USD 79.3 mln) for the first quarter of 2008, with revenues from advertising services worth RMB 77.1 mln (USD 11.0 mln) and revenues from wireless value-added services and other services amounting to RMB 18.9 mln (USD 2.7 mln).

To view Netease's full Q1 2008 earnings report, please click here.

Keywords: online advertising Internet Netease NTES portal Q1 2008 wireless online gaming WVAS fiscal report

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