NetEase.com, China's biggest online game firm, today reported net profit grew 15 percent
year-on-yearin the fourth quarter thank to its booming game business, even though it paid US$60 million to repurchase its shares from August to December.
In the fourth quarter, NetEase's net profit was 320 million yuan (US$41.02 million). Its revenue reached 540 million yuan, a 10.9 percent growth from a year ago but a 5.5 percent drop from the previous quarter when students enjoyed summer vocation.
The company's annual revenue for whole 2006 was 2.22 billion yuan, a 30.9 percent growth year-on-year.
In 2006, NetEase's revenue market share fell to 24 percent from 27.6 percent in China's online game market, according to iResearch Inc.
Meanwhile, NetEase will launch the next generation of own-developed "West Journey'' game and search engine in the second quarter this year.
