Chinese video game giant NetEase reports Q4 revenue up 3% YoY to ~$4B and net profit down 29% to ~$903M, vs. ~$1.2B est., driven by its self-developed games
Higher operating expenses and investment losses also weighed on the game maker's bottom line — Chinese videogame giant NetEase …
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NetEase has lost at least three senior executives in recent months, as CEO William Ding pulls back on investments and cuts jobs in a bid to boost profits
Bloomberg :
NetEase has lost at least three senior executives in recent months, as CEO William Ding pulls back on investments and cuts jobs in a bid to boost profits
Simon Zhu, NetEase's president for global investments and partnerships, said he was leaving the Chinese video-game company in a social media post on Friday.
NetEase CEO William Ding has cut hundreds of jobs, closed game studios, and reduced international investment as he refocuses on a smaller portfolio of titles
Bloomberg :
Chinese game giant NetEase reports Q4 net profit up 33% YoY to ~$1.2B, above ~$1.05B est., and revenue down 1.4%, a sign its gaming business is turning around
Sherry Qin / Wall Street Journal :
Chinese game giant NetEase reports Q4 net profit up 33% YoY to ~$1.2B, above ~$1.05B est., and revenue down 1.4%, a sign its gaming business is turning around
The company's revenue fell 1.4% but was slightly better than analysts' expectations — Chinese videogame giant NetEase returned …
Sources: Chinese game publisher NetEase has been directed to divest its overseas holdings, starting with hit game Marvel Rivals, which laid off its Seattle team
Chinese game publisher NetEase raised fears with recent moves that it is unloading as much as all of its overseas holdings …
Sources: Tencent and NetEase reconsider or scale back Japanese game studio investments, after yielding few hit games and the Chinese market staged a comeback
- China's biggest game publishers are rethinking expansion plans — ‘Wukong’ success also encouraged looking domestically for hits