By Sagar V. Mankar 
NetEase, a major internet and gaming company, has released its financial results for the fourth quarter and full year of 2024, showing steady performance despite some challenges in certain business segments.
The company reported total revenue of RMB26.7 billion (US$3.7 billion) for Q4 2024, representing a slight decrease of 1.4% compared to the same period in 2023.
However, their gaming division, which remains the company’s core business, saw a 1.5% increase in revenue to RMB21.2 billion (US$2.9 billion).
According to the financial report, NetEase achieved significant success with several new game launches. “Marvel Rivals” gained impressive traction globally, gaining over 10 million registered users within 72 hours of its December launch and exceeding 40 million users to date. The game’s Season 1 update in January 2025 propelled it to the top of Steam’s global charts for both sales and player count.
Another standout performer was “Where Winds Meet,” which surpassed 3 million downloads in China within just four days of its PC release. Following its mobile launch, the game reached a combined player base of over 15 million across both platforms in only two weeks.
NetEase CEO William Ding emphasized the company’s commitment to innovation, stating, “We boldly pushed the boundaries of innovation once again in 2024, delivering groundbreaking gaming experiences that captivated players worldwide.”
The financial results revealed that mobile games accounted for approximately 65.3% of online game revenues in Q4, down from 76.7% in the same quarter of 2023. This shift reflects NetEase’s growing success in PC gaming, including popular titles like “Naraka: Bladepoint” and several licensed games.
While the gaming segment showed growth, other business units faced challenges like Youdao, NetEase’s intelligent learning subsidiary, and Cloud Music experienced a decrease in quarterly revenue.
For the full fiscal year 2024, NetEase reported total revenues of RMB105.3 billion (US$14.4 billion), a modest increase from RMB103.5 billion in 2023. The company’s net income attributable to shareholders for the year reached RMB29.7 billion (US$4.1 billion), slightly higher than the RMB29.4 billion reported for 2023.
Looking ahead, NetEase appears well-positioned for continued growth in 2025, with a strong lineup of new games planned for global markets, including titles like “Fragpunk,” “Destiny: Rising,” and “MARVEL Mystic Mayhem.” The company remains focused on expanding its global footprint while maintaining its strong position in the Chinese market.