NetEase's revenue rises 41.7% in 2017

BEIJING - Chinese Internet and online gaming company NetEase reported revenue and profit growth in 2017.

The Nasdaq-listed firm raked in 54.1 billion yuan ($8.3 billion) in net revenue last year, up 41.7 percent from a year ago, according to its unaudited financial results for Q4 and the 2017 fiscal year Wednesday.

Gross margins increased to 25.9 billion yuan from 21.7 billion yuan the previous year.

The company posted a 30-percent steady rise in online gaming income from a year ago, with its e-commerce revenue more than doubling.

Revenues from online games dipped 10.7 percent in Q4, as NetEase's mobile games are contributing less income, compared with growth in advertising, e-mail, e-commerce and other areas.

Despite the declining sales of mobile games such as "Onmyoji" and "New Ghost," NetEase will introduce more hits to the market while advancing its e-commerce business, William Ding, CEO of NetEase, said in the report.

The company has reported eye-catching growth in its e-commerce and advertising, with e-commerce contributing 22 percent to NetEase's net revenue in 2017, according to Ding.