Get Our Weekly Email Newsletter
I.T. Skills In Your China Business!IPS works with institutions and corporate clients to deliver computer skills training and ICT solutions, as well as internal assessments and benchmarking. More Info Here...
Distribute Press Releases To Chinese Media!Getting your company's message to journalists is important in China and ChinaNewswire.com can assist you in English-language releases and Xinwengao.com can provide Chinese-language distribution services. Corporate press releases are the most cost-effective way for you to connect with your customers and stakeholders in China!
4th Annual OSS BSS Asia Pacific Summit @ Singapore - 2010/03/24
Vietnam Mobile & Broadband International Summit 2010 @ Hanoi - 2010/03/25
China Mobile Internet Summit 2010 @ Beijing - 2010/04/07
Green Fuels & Vehicles China 2010 @ Shanghai - 2010/04/08
TETRA World Congress @ Singapore - 2010/05/25
Global Mobile Internet Conference 2010 @ Beijing - 2010/05/27
NGMN Industry Conference 2010 @ Shanghai - 2010/06/02
Let us work with you in China to manage your email marketing campaigns, loyalty marketing programs, email newsletters, and digital marketing efforts while we improve your email deliverability in China. Our software and staff can help your company stay #1! Visit XZList.com
Netease.com Posts Lackluster Internet Results For A Difficult Quarter In China
November 19, 2009 |
Print
| 
Email
| 
Comments | Category: Business, Internet
In a quarter that saw its gaming aspirations come to a halt because of Chinese government sanctions, Chinese Web portal Netease.com has posted lackluster quarterly results.
NetEase.com Inc. announced its unaudited financial results for the quarter ended September 30, 2009, and stated total revenues for the third quarter of 2009 were CNY879.4 million, compared to CNY872.1 million and CNY806.6 million for the preceding quarter and the third quarter of 2008, respectively. Yet these results have failed to impress investors, who have caused the company's stock to tumble in after-hours trading. The share price ended at USD37.10, down almost 9%.
Posted during the quarter on the website of China's General Administration of Press and Publication, the agency responsible for licensing and administering online games in China, was an official statement that asked Shanghai EaseNet Network Technology Limited, NetEase.com's affiliate, to stop charging fees to World of Warcraft game players. The game is allegedly not being operated with proper approval, and GAPP is evaluating whether to impose administrative penalties on Shanghai EaseNet.
In a company statement at the time, NetEase.com professeed that neither it nor Shanghai EaseNet had been officially notified of GAPP's determination of any penalties. The company stated it believed it and EaseNet were in full compliance with Chinese laws and they were seeking clarification from Chinese authorities regarding this statement by GAPP.
Revenues for Netease.com during the quarter from online games were CNY775.1 million, compared to CNY781.5 million and CNY675.1 million for the preceding quarter and the third quarter of 2008, respectively. Revenues from advertising services were CNY86.0 million for the third quarter of 2009, compared to CNY72.8 million and CNY113.0 million for the preceding quarter and the third quarter of 2008, respectively. Revenues from wireless value-added services and others, or WVAS and others, were CNY18.3 million for the third quarter of 2009, compared to CNY17.8 million and CNY18.5 million for the preceding quarter and the third quarter of 2008, respectively.
Net profit for the third quarter of 2009 totaled CNY393.8 million, compared to CNY468.1 million and CNY313.3 million for the preceding quarter and the third quarter of 2008, respectively.
Recommend this page: 
Loading ...Leave A Comment:
-
Gadgets & Electronics
- Motorola Android Phones Go For Microsoft's Bing Search Engine In China
- NGMN Alliance Announces NGMN Industry Conference & Exhibition 2010 in Shanghai, China
- China Unicom Unveils Its First Android Wi-Fi Customized Smartphone
- Chinese Consumers Complain About HP's Products
- Japanese Electronics Retailer Plans China Entry
-
Internet
-
Law & Policy
-
Security
-
Software
-
Telecom & Wireless
- China Mobile Confirms Acquisition Of 20% Stake In Shanghai Pudong Development Bank
- Motorola Android Phones Go For Microsoft's Bing Search Engine In China
- China Unicom Unveils Its First Android Wi-Fi Customized Smartphone
- Chinese Telecom Operators' Core Business Revenue Up 5% In January 2010
- ZTE, Vodafone Jointly Launch R&D Lab In Germany
Copyright 1999-2010 ChinaTechNews.com. All Rights Reserved.
If you would like to syndicate these articles and posts for personal non-business use where you will not gain in any monetary way, please utilize the RSS feed for this online publication, which provides a brief summary of each post with a link back to the original article. Posting of any other part of the articles or posts on this website, in whole or in part, is expressly prohibited without express written permission from ChinaTechNews.com. No part of this website may be copied, transferred, posted, or published without the express written permission of ChinaTechNews.com or its registered agents. Content on this website, including articles, opinions, and data are protected under international copyright laws. Failure to comply with these rules will result in legal action. 