GUANGZHOU, China, May 13, 2016 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES), one of China's leading Internet and online game services providers, today announced its unaudited financial results for the first quarter ended March 31, 2016.
Net revenues for the first quarter of 2016 were RM7,915.4 million (US$1,227.6 million), up 116.3% compare to the first quarter of 2015 and 0.2% higher than the fourth quarter of 2015. Net profit for the first quarter of 2016 was RMB2,460.8 billion (US$381.6 million),with year over year increase of 94.6% and quarter-over-quarter increase of 13.7%.
The online games segment maintained strong growth momentum and achieved a record quarter. Net revenues from online games were RMB6,015.1 million (US$932.9 million) for the first quarter of 2016, 104.5% higher than the first quarter of 2015 and 9.3% higher than the fourth quarter of 2015.
"We are very pleased with the reception of our recently introduced games and the ongoing popularity of our classic titles. We believe that our investments in research and game development, as well as our deep understanding of Chinese audience preferences, place NetEase at the forefront of market trends and player satisfaction," said Mr. William Ding, Chief Executive Officer and Director of NetEase.
In the first quarter of 2016, NetEase mobile games Fantasy Westward Journey and Westward Journey Online continued to dominate the mobile game category on China's iOS app store. Newer mobile games such as Kung Fu Panda 3 and The X-World were popular among users. The Company's licensed mobile game Kai-ri-sei Million Arthur also showed strong performance. In addition, titles such as Lunar Flowers and Battle to the West 2 continued to do well during the quarter. Lunar Flowers was selected among the top iPad games in Hong Kong and Taiwan in 2015. Battle to the West 2 was rated among the best games on Google Play in Hong Kong and Taiwan in 2015.
In recent years, NetEase continues to innovate and lead in the mobile games space. The Company has grown a mobile game portfolio of 90 titles. In the "Top 52 Publishers of 2015" list by App Annie, NetEase ranked among top ten developers for the first time, beating established game developers such as EA, Bandai Namco and Sony.
As NetEase expands rapidly in mobile games, the Company's PC-client games also plays a vital role in the Company's online game business. Strategically, NetEase leverages self-developed and licensed games to gain traffic, market share and user recognition. As Blizzard Entertainment's exclusive partner in China, NetEase is expected to bring its highly anticipated first person shooting game Overwatch in conjunction with the global launch on May 24.
In January 2016, NetEase ranked No. 1 on the IBD Top 50 Stock List. In March 2016, NetEase was chosen as one of four Chinese companies to become component stocks of the Nasdaq100 Index. Success of online games continues to serve as the foundation of the Company's rising influence in the global gaming industry.
Following the success of legacy titles including Fantasy Westward Journey and Westward Journey Online, NetEase is scheduled to premiere its new flagship IP mobile games in the second quarter of 2016. The highly anticipated New Ghost and Tianxia III mobile games just may be the next NetEase games to sweep the charts.
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SOURCE NetEase, Inc.