Earnings: NetEase's Q2 Profits Grow; Bump on Olympics

This story was written by Rafat Ali.

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NetEase.com, one of the big Chinese online portals, reported its Q2 earnings today, and the growth came ahead of analyst views. NetEase earned 438.2 million RMB ($63.9 million) compared with 312.6 million RMB ($45.6 million) in the year-ago quarter. Revenues went up to 715.9 million RMB ($104.4 million) from 558 million RMB ($81.3 million), helped by increases in online game services and ad services revenues. Most of the ad revenues bump was due to the ongoing Beijing Olympics.

Sector wise, revenues from online games were RMB595.0 million ($86.8 million), compared to $69.3 million in the year-ago quarter. Revenues from advertising services were $15.2 million, compared to $9.5 million in the year-ago quarter. Revenues from wireless value-added services and others were $2.5 million, compared to $2.6 million in the year-ago quarter. More numbers here.


By Rafat Ali