NetEase announced Q3 2022 financial results

Numbers go up compared to last year.
netease logo on black background

China-based internet and online game services provider NetEase announced its unaudited financial results for the third quarter ended in September 30, 2022. Report shows increase in several key metrics.

Related: Blizzard announces it will not renew licensing deals with NetEase

Financial report shows an increase of 10.1% in Net revenues compared to last year, in total of RMB24.4 billion (US$3.4 billion). Games and related value-added services net revenues were RMB18.7 billion (US$2.6 billion), an increase of 9.1% compared with the third quarter of 2021.

Gross profit was RMB13.7 billion (US$1.9 billion), an increase of 16.4%, and total operating expenses were RMB9.0 billion (US$1.3 billion), an increase of 12.0% compared with the third quarter of 2021.

NetEase also stated that net revenues and net income contributions from these licensed Blizzard games represented low single digits as a percentage of NetEase’s total net revenues and net income in 2021 and the first nine months of 2022.

The Chinese firm also said a separate long-term agreement covers the co-development and publishing of Diablo Immortal.

next: Omdia releases forecast report on VR headset and content revenue

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