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NetEase games revenue surged by 9.4% to reach $11.5 billion

Chinese gaming behemoth NetEase reported a substantial ¥81.6 billion ($11.5 billion) in revenue from its games division in 2023, as per its latest financial report. This marked a notable 9.4% increase from 2022, when the games segment generated ¥74.6 billion ($10.4 billion). Additionally, the gross profit for the division witnessed a significant rise of 18.9% year-over-year, reaching ¥55.5 billion ($7.8 billion).

NetEase's overall revenue across its business stood at ¥103.5 billion ($14.6 billion) in 2023, representing a 19.5% increase from ¥52.8 billion ($8.8 billion) in 2022.

The mobile gaming sector played a pivotal role, contributing to over 75% of NetEase's total revenue in 2023, up from 67% the previous year. This growth trajectory has been fueled by the success of games like Justice and Eggy Party, with the latter amassing over 500 million players in less than two years.

In the fourth quarter of 2023, NetEase reported ¥16.8 billion ($2.4 billion) in gross profit, marking a 27% year-on-year increase. Meanwhile, profits at its games arm rose by 9.6% year-on-year to ¥20.9 billion ($2.9 billion) during the quarter.

William Ding, CEO and director of NetEase, expressed satisfaction with the company's performance, highlighting the continuous innovation and diversification of its game portfolio. Ding emphasized the success of titles like Eggy Party, Racing Master, and Dunk City Dynasty, showcasing the company's ability to deliver dynamic and original products across multiple genres.

Ding also underscored NetEase's commitment to social responsibility, particularly in promoting a healthier gaming ecosystem. The implementation of a "Minors Mode" across its domestic game lineup reflects the company's dedication to strengthening its anti-addiction system and fostering responsible gaming practices.

Overall, NetEase's impressive financial results for 2023 underscore its position as a leader in the gaming industry, driven by innovation, diversification, and a commitment to social responsibility.

Source: adapted from an article by Aaron Astle, News Editor for

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