NetEase FY24 Financial Report: Marvel Rivals and Where Winds Meet Performance

NetEase’s fiscal year 2024 financial results demonstrate steady growth, characterized by a 1.3% increase in total net revenue to 105.3 billion yuan ($14.4 billion). The company’s gaming division remains the primary driver of this performance, contributing 83.6 billion yuan, a 2.4% year-over-year increase. Online games now account for 96.2% of the company's total revenue, with a notable shift in composition as PC titles, such as Naraka: Bladepoint, gained prominence, causing the mobile segment's revenue share to decline from 75.2% to 72.7%. Overall, the company reported a gross profit of 65.8 billion yuan and a net income of 29.7 billion yuan.

Key product performance highlights include the rapid expansion of the hero shooter Marvel Rivals, which reached 40 million unique players within two months of its launch. Additionally, the open-world action RPG Where Winds Meet achieved significant traction in the Chinese market, accumulating over 15 million players within two weeks of its December release. These figures underscore the company's successful execution of its strategy to diversify its portfolio across global markets and various genres.

Beyond internal development, the company’s strategic partnership with Blizzard has yielded positive results, with titles like World of Warcraft and Hearthstone maintaining strong engagement within the Chinese gaming community. Looking forward, the company maintains a robust development pipeline, including upcoming titles such as the 5v5 shooter FragPunk, the mobile adaptation Destiny: Rising, and the tactical RPG Marvel Mystic Mayhem. These initiatives reflect a continued commitment to leveraging both original intellectual property and strategic collaborations to sustain long-term growth.