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NetEase revenue rises 7.2% to $14.6bn in 2023

NetEase released its financials results for 2023, with the Chinese gaming firm experiencing growth across the board – particularly in its games division.

The firm’s overall revenue rose to RMB 103.5 billion ($14.6 billion) from RMB 96.5 billion ($13.4 billion), which represented a growth of 7.2% increase year-over-year.

Profit rose 19.5% to RMB 63.1 billion ($8.9 billion) in 2023, compared to RMB 52.8 billion ($7.3 billion) the previous year.

The publisher reported a 9.4% increase in revenue for its games segment, which rose to RMB 81.6 billion ($11.5 billion) compared to RMB 74.6 billion ($10.3 billion) in 2022.

NetEase attributed this rise to its online games, particularly newly launched mobile titles including Eggy Party and Justice. Mobile games made up an estimated 75.2% of earnings in this segment compared to 67% in 2022.

“2023 proved to be another landmark year for NetEase Games with continuous cross-category innovations that expand and diversify our robust games portfolio,” said NetEase CEO and director William Ding.

“The success of games like Egg Party and our heralded new titles, such as Racing Master and Dunk City Dynasty, highlights our ability to bring players dynamic and original products in multiple genres.

“At the same time, we have maintained a strategic advantage with our MMO roots, propelling Justice to transcend the boundaries of conventional MMO gaming.”

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