Shares of NetEase Inc. jumped more than 15% on Friday, reaching their highest level in over four years. The surge followed the Chinese gaming giant’s robust first-quarter results, driven by strong demand for both new and existing games.
On Thursday, NetEase reported a 7.4% increase in revenue compared to the same period last year, totaling 28.8 billion yuan (about $4.0 billion). Gaming revenue saw an even bigger rise of 12.1%, reaching 24.0 billion yuan.
Net income attributable to shareholders jumped 35% to 10.3 billion yuan ($1.4 billion), reflecting the company’s solid profitability.
The company’s shares listed in Hong Kong climbed more than 15% on Friday to HK$194.80, their highest since February 2021. Meanwhile, U.S.-listed shares closed 14.6% higher on Thursday.
Growth was driven by popular game titles such as Marvel Rivals, Where Winds Meet, and FragPunk. Additionally, Blizzard games regained momentum in the Chinese market. CEO William Ding highlighted “ongoing innovation and new titles” as key factors behind the strong performance.
NetEase also announced a quarterly dividend of $0.1350 per share, rewarding shareholders following its successful quarter.
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