NetEase's Blizzard Agreement Could Boost Gaming Revenue -- Market Talk

Dow Jones04-11

0318 GMT - NetEase's renewed publishing agreement with Blizzard is positive for its gaming revenue, especially for growth momentum in PC games, Jefferies analysts Thomas Chong and Zoey Zong say in a research note. The renewed deal demonstrates NetEase's commitment to game quality and its strong R&D capabilities, which are recognized by Blizzard and parent Microsoft, they say. Jefferies expects the new collaboration could benefit NetEase's revenue more than compared with the prior agreement, under which licensed Blizzard games accounted for a low-single-digit percentage of 2021 total revenue. Jefferies maintains a buy call on NetEase and keeps its H-share target at HK$208.00. Shares are last at HK$152.00. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

April 10, 2024 23:18 ET (03:18 GMT)

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