NetEase Report: Annual gaming revenue of over $11.5 billion and 500 million Eggy Party users

Chinese technology giant NetEase has released a financial report for the fourth quarter and the entire year 2023. The company reported consistently good results from the gaming division.

Financial indicators for the fourth quarter of 2023:

• The net revenue of the entire company for the quarter was ¥27.1 billion ($3.8 billion). This is 7% more than a year ago;
• The quarterly gross revenue of the entire company is ¥16.8 billion ($2.4 billion). Compared to 2022, it has increased by 27%;
• The gaming division remained the most profitable. Its quarterly revenue increased by 9.6% to ¥20.9 billion ($2.9 billion);
• 76.7% of the gaming division's revenue was generated by mobile games.

The share of mobile, console and PC games in NetEase gaming division revenue in the fourth quarter of 2022, as well as in the third and fourth quarters of 2023

Financial indicators for the whole of 2023:

• NetEase's net revenue increased by 6.7%, reaching ¥103.5 billion ($14.6 billion);
• The gross revenue of the entire company is ¥63.1 billion ($8.9 billion). Growth of 8.4% in annual terms;
• The gaming division earned 81.6 billion rubles ($11.5 billion) for the year, which is 9.4% more than in 2022;
• Mobile games accounted for 75.2% of the division's revenue. For comparison, in 2022 their share was less — 67%. As NetEase explains, Eggy Party and Justice Mobile should first of all be thanked for the growth of mobile revenue.
  

NetEase Game Portfolio

Game performance:

• The number of registered users in Eggy Party has exceeded 500 million people. Note that the global release of the game took place just a week ago — on February 23, 2024. Before that, the game was available in mainland China for almost two years, and in September 2023 it was released in a number of Southeast Asian countries;
• during the celebration of the Chinese New Year (February 10-24, 2024), the number of daily active users in Eggy Party reached 40 million people;
• The active audience of the Justice series games has reached 100 million people;
• Racing Master started well in Hong Kong, Macau and Taiwan. NetEase did not disclose its indicators.