NetEase's Net Income Up 73% To $1.7 Billion, Onmyoji Headed West "Later This Year"

NetEase is a massive company that publishes a large number of games, as well as operating within a few other businesses, but it's easy to forget just how big the company is. According to its latest financial report, in 2016, NetEase Games' annual net income totaled 11.6 billion RMB, or around $1.7 billion, which is a staggering 73.1% increase over 2015's 6.7 billion RMB. The company's annual net revenues totaled 38.2 billion RMB, or around $5.5 billion, a 67.4% increase over 2015's 22.8 billion RMB. Its gross profit totaled 21.7 billion RMB, or around $3.1 billion, a 61.9% increase over 2015's 13.4 billion RMB. 

"Online game services," in specific, was one of the sectors in which NetEase saw an increase in gross profit in 2016. It explains the increase as follows.

The increase in online game services gross profit in 2016 was primarily attributable to increased revenue contribution from the Company's self-developed mobile games such as the Westward Journey Online and Fantasy Westward Journey mobile games, Overwatch.

NetEase also had a particularly strong fourth quarter, which it primarily attributes to "increased revenue contribution" the mobile version of New Ghost and Onmyoji, but also notes that Overwatch and World of Warcraft helped the year-over-year increase.

It was also confirmed in the report that Onmyoji is headed to "Japan, Canada, Europe, and the United States later this year."

You can find NetEase's full financial report for Q4 2016 and "the fiscal year ended December 31, 2016" here.