Tuesday September 26, 2023
The Best Employers in Sports Survey is Now Open!

Game Developer Reports $3.5B in Q2 Revenue

  • NetEase surpassed Wall Street estimates of $3.4 billion in revenue for the quarter.
  • As of June 30, the company has $13.1 billion in total cash, restricted cash, and cash equivalents.
Front Office Sports Today

How Jamie Erdahl Made Good Morning Football Her Own

Jamie Erdahl joins to discuss her career and the growth of “Good Morning Football.”
Listen Now
September 25, 2023 | Podcast
Copy Link
Link Copied
Link Copied

Video game developer NetEase exceeded expectations in the company’s second-quarter earnings report. 

The China-based tech giant reported $3.5 billion in revenue in Q2 2022 — a 12.8% increase year-over-year — surpassing Wall Street estimates of $3.4 billion for the quarter. 

The better-than-expected results were driven by NetEase’s games and related value-added services segment, which generated $2.7 billion in revenue in Q2, up 15% compared to Q2 2021. 

  • Online game revenue made up 92.8% of NetEase’s games and related value-added services.
  • NetEase reported $1.9 billion of gross profit in Q2 2022, a 15.7% increase year-over-year.
  • Operating expenses reached $1.2 billion during the quarter, up 7.6% compared to Q1 2021.
  • As of June 30, NetEase has $13.1 billion in total cash, restricted cash, and cash equivalents. 

NetEase benefited from the debut of its mobile version of “Diablo Immortal” in China — the world’s largest gaming market — in Q2 2022. 

In July, the title — co-developed with Activision Blizzardsurpassed $100 million in global player spending across Google Play and the App Store following its June 1, 2022, release. 

Declining Rival 

Tencent — a NetEase rival — took a step back in its second quarter. The Chinese tech conglomerate generated $19.77 billion in revenue in Q2 2022, a 3% decrease compared to the same period last year. The quarter marked Tencent’s first-ever year-over-year revenue decline.

Tencent’s gaming division saw revenue for domestic and international games fall 1% year-over-year during the quarter to $4.7 billion and $1.6 billion, respectively.

Copy Link
Link Copied
Link Copied

What to Read


NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.

WBD Pursues ‘Different’ Strategy For Sports on Max

Company to place all of its live sports on new streaming tier

Colorado's Epic Victory Sets New ESPN Prime Time Viewership Record

Coach Prime Deion Sanders delivered in prime time on ESPN.
podcast thumbnail mobile
Front Office Sports Today

How Jamie Erdahl Made Good Morning Football Her Own


Featured Today


Oakland-MLB Relationship Devolves Into Next-Level Toxicity

Commissioner, mayor have very different accounts of July meeting
Jacksonville Jaguars Team President Mark Lamping addressed community members at Strings Sports Brewery on Main Street for the first of 14 planned town hall sessions to present the team's plans for the new "stadium of the future" complex and address the public concerns.
September 25, 2023

Jacksonville Jaguars President Walks Back Stadium ‘Threat’

"Viewing those comments as a threat to leave Jacksonville isn't correct."
Chatri Sityodtong
September 25, 2023

ONE Championship's Quest To Challenge Rival UFC Through U.S. Expansion

Leveraging its Amazon deal, ONE Championship seeks to expand in U.S.
September 24, 2023

Savannah Bananas Break All The Rules To Hit The Mainstream

Team concludes 2023 tour with even-bigger plans for next year


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations
June 30, 2023

Nike To Revive Kobe Signature Shoe Line

Late HOFer will again be the center of a signature shoe line.
At Dick's Sporting Goods in Fairless Hills, Store Administrative Assistant Christine Vandfermay, of Philadelphia, restocks some Philadelphia Eagles items.
May 23, 2023

Dick’s Sporting Goods Sees Modest Growth, Less Foot Traffic

Dick's Sporting Goods saw a 5.3% increase in net sales in Q1.
Hellen Obiri of Kenya crosses the finish line to win the women's division at the 2023 Boston Marathon.
May 16, 2023

On Wants More Star Power, Visibility for Next Growth Phase

On is looking to grow through tennis and other verticals.
May 11, 2023

Topgolf Callaway Lowers Sales Expectations

Callaway cut its profit forecast for this year.
May 10, 2023

Endeavor Posts Record Quarter Amid UFC-WWE Merger Plans

Endeavor bought WWE in April, it also sold its IMG for $1.25B.
Barstool Sportsbook is owned by Penn Entertainment.
May 5, 2023

Penn Clashes With Barstool After Firing, Earnings Miss

Penn Entertainment's earnings missed and the company clashed with Barstool.
A view of the outside of Adidas' flagship store in Shanghai.
May 5, 2023

Adidas Beats Revenue Expectations Despite Costly Yeezy Struggles

CEO admits that the loss of Yeezy is “of course hurting us.”