Business, Internet

NetEase.com Announces Q1 2009 Financial Results

Chinese Internet and game development company NetEase.com Inc. says its online advertising and wireless service revenues fell as it announced its unaudited financial results for the quarter ended March 31, 2009.

Total revenues for the first quarter of 2009 were CNY781.7 million, compared to CNY801.7 million and CNY651.9 million for the fourth and first quarters of 2008, respectively.

However, revenues from advertising services were CNY41.0 million for the first quarter of 2009, a huge drop compared to CNY111.8 million and CNY77.1 million for the fourth and first quarters of 2008, respectively. Revenues from online games were CNY724.0 million for the first quarter of 2009, compared to CNY672.5 million and CNY555.9 million for the fourth and first quarters of 2008, respectively. Revenues from wireless value-added services and others were CNY16.6 million for the first quarter of 2009, compared to CNY17.4 million and CNY18.9 million for the fourth and first quarters of 2008, respectively.

Net profit for the first quarter of 2009 totaled CNY416.7 million for NetEase.com, compared to CNY575.9 million and CNY269.4 million for the fourth and first quarters of 2008, respectively.

As of March 31, 2009, NetEase.com's cash and time deposits totaled CNY6.0 billion, compared to CNY5.6 billion as of December 31, 2008.

Leave a Reply

Your email address will not be published. Required fields are marked *

Send this to a friend