NetEase has released its financial report for the fourth quarter and the full fiscal year ended December 31, 2023. Here are the key takeaways from the performance of the Chinese tech giant’s gaming business.
NetEase’s financial highlights for 2023
- According to its earnings release, NetEase reached 103.5 billion ($14.6 billion) in full-year net revenue, up 6.7% year-over-year.
- Gross profit grew 8.4% year-over-year to 63.1 billion yuan ($8.9 billion).
- NetEase’s gaming division generated 81.6 billion ($11.5 billion) in net revenue, up 9.4% compared to 2022. It is worth noting that this segment also includes “value-added services” such as live streaming service NetEase CC and game-related merchandise.
- Online games accounted for 92.9% of the total. The share of mobile revenues in the segment increased from 67% to 75.2%, driven by the success of Eggy Party and Justice Mobile.
- Eggy Party has reached over 500 million registered players since its launch in 2022, also surpassing 40 million DAU during the Lunar New Year.
- The Justice franchise reached 100 million active users.
- Racing Master performed well in Hong Kong, Macau, and Taiwan, also topping the iOS download and revenue charts in Taiwan within the first week of its launch.
- “The success of games like Eggy 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,” NetEase CEO William Ding said. “At the same time, we have maintained a strategic advantage with our MMO roots, propelling Justice mobile game to transcend the boundaries of conventional MMO gaming.”