Quarterly Earnings of NetEase Beat Expectations on Sales of "World of Warcraft"
Quarterly Earnings of NetEase Beat Expectations on Sales of "World of Warcraft"

Official figures shared by NetEase. com Inc. have revealed that for the past year's fourth-quarter. China's third-largest online games provider managed to beat analysts' expectations by posting high earnings, mainly on the back of the company's "World of Warcraft" title gaining a "positive" response from gamers.

Yesterday, NetEase posted a 0.7% drop in earnings to 571.8 Million Yuan ($83.8 Million), or 4.39 Yuan per American depositary receipt, from the figure of 575.9 Million Yuan, or 4.46 Yuan, posted for 2008's fourth-quarter.

Analysts had, on an average, expected earnings of 531 Million Yuan.

Revenue managed to rise by 61% to 1.29 Billion Yuan, from last year's figure of 801.7 Million Yuan. Overall, profits declined because of an 80 Million Yuan tax benefit of the previous year were not repeated.

"NetEase's sales were boosted by one full quarter of contributions from `World of Warcraft. The company has been increasing spending to market the game", said Timothy Chan of CLSA Ltd. in Hong Kong.

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