Chinese internet company NetEase has cited online gaming operations in the country as the driving force behind its year-on-year profit growth during the third quarter of 2013.
The firm posted profit of CNY1.1 billion (€126.5 million/$172 million) for the latest quarter through to the end of September, a 29% increase on the CNY811.9 million recorded in the corresponding period last year.
Revenue from online gaming proved to be the biggest contributor to the firm’s positive results, having grown 21% in the latest quarter. Advertising revenue also increased by 23%.
Pre-tax revenue for the quarter also increased by 23% to CNY2.5 billion, while operating expenses grew by 18% to CNY635.2 million.