New Potter and Showbiz games boost Netease financials

 

Netease just posted a healthy slate of Q4 2021 financial results, with Q4 net revenue up 23.3% year-on-year.

Q4 2021 highlights included:

  • Overall net revenues of $3.8bn, up 23.3% YOY.
  • Online game services net revenues of $2.7bn, up 29.8% YOY. Mobile games accounted for approximately 68.3% of this figure.
  • Overall gross profit of $2.0bn, up 30.1% YOY.

The launch of Portkey Games’ Harry Potter: Magic Awakened topped China’s iOS downloads and grossing charts “multiple times”, the company said, with The Showbiz: Dream Chaser also topping download charts after release in December 2021.

Fantasy Westward Journey and Westward Journey Online also continue to the business for Netease, as it looks forward to mobile releases Naraka: BladepointDiablo Immortal, Ghost World Chronicle international rollouts for Harry Potter: Magic Awakened and Dead by Daylight Mobile.

Full FY2021 highlights were included too. Net revenue came in at $13,747.3 million, with online game services accounting for $9,855.7 million of that figure. Mobile game revenue was 70.4% of that online game services number, down slightly from 71.9% in fiscal year 2020. Gross profit for FY2021 was $7,370.7 million.