$NTES Q3 results mentioned that the contract with Blizzard will be ending January 2023, which might have scared some investor, even though it was stated that this license only represented low single digits percent of total revenue and does not include the agreement from Diablo Immortal.
Nonetheless, we see a 10.1% increase in net revenue YoY which includes an increase in Games and related of 9.1% and an increase of 22.5% of Cloud Music. Really glad to see Cloud Music doing well.
While, Games increase is decent thanks to games like Identity V, Naraka: Bladepoint, Knives Out and Diablo Immortal, I have even higher hopes for the future as the company has a lot of content ready to be delivered during the end of 2022 and early 2023, including titles like Harry Potter: Magic Awakened (international markets), Lost Lights and Dead by Deadlight mobile.
Net income on the other hand was $0.32 EPS, a 39% increase QoQ and 100% increase YoY.
Modify on 2022-11-19 00:53
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