NetEase Posts Higher Q2 Profit

(RTTNews) - Chinese Internet and online game services provider NetEase, Inc. (NTES) reported net profit for the second quarter of RMB1.2 billion or RMB9.18 per ADS, compared to RMB1.1 billion or RMB8.41 per ADS for the year-ago quarter.

Total revenues for the second quarter rose to RMB2.95 billion from RMB2.41 billion a year ago.

William Ding, Chief Executive Officer and Director of NetEase, said, "Each of our three business segments grew both sequentially and year-over-year in the second quarter with total revenue increasing by 17.2% sequentially and 22.3% year-over-year. Compared with the second quarter of 2013, revenues from our online games business increased by 13.1%, revenues from advertising services increased by 42.9%, and revenues from our e-mail, e-commerce and others segment increased by 201.5%."

The company said its board of directors has approved a dividend of US$0.37 per ADS for the second quarter of 2014, which is expected to be paid on September 5 to shareholders of record on August 29.