Latest news with #WilliamDing
Yahoo
15-05-2025
- Business
- Yahoo
NetEase Stock Soars as Games Revenue Jumps
U.S.-listed shares of NetEase (NTES) surged nearly 15% in intraday trading Thursday as the Chinese internet and game services provider reported first-quarter results above analysts' estimates. The company posted adjusted earnings per share of 3.50 yuan ($0.49) on revenue that rose more than 7% year-over-year to 28.83 billion yuan ($4 billion). Analysts polled by Visible Alpha projected 2.80 yuan and 28.51 billion yuan, respectively. Games and related value-added services net revenues jumped 12% to 24.05 billion yuan, about a billion yuan above expectations. The segment more than made up for revenue decreases in its much smaller Youdao, NetEase Cloud Music, and Innovative businesses units. "In addition to the strong performance of our latest games, our long-standing franchises continue to thrive, powered by outstanding content updates and continuous gameplay enhancements that bring fresh takes to player experiences," CEO William Ding said. Including today's advance, NetEase shares are up about 38% in 2025. Read the original article on Investopedia Sign in to access your portfolio
Bloomberg
25-04-2025
- Business
- Bloomberg
NetEase Executives Step Down As CEO Pulls Back From Games
NetEase Inc. is losing another senior executive, the latest in a string of departures after an investment pullback spearheaded by billionaire founder and chief executive officer William Ding. Simon Zhu, NetEase's president for global investments and partnerships, said he was leaving the Chinese video-game company in a social media post on Friday. The company has lost at least three key employees from its embattled games division in recent months.
Bloomberg
25-02-2025
- Business
- Bloomberg
The Next AI Disruption Isn't Coming From Where You Think
Welcome to Tech In Depth, our revamped daily newsletter with reporting and analysis about the business of tech from Bloomberg's journalists around the world. Today, Vlad Savov looks at the industry's peculiar habit of achieving breakthroughs via smaller, specialized companies. NetEase unease: China's second biggest games publisher is undergoing an overhaul led by founder and CEO William Ding. He's cut hundreds of jobs, shuttered studios and pulled back on international investment at NetEase Inc. Profitability and evergreen potential are Ding's new priorities.
Yahoo
21-02-2025
- Entertainment
- Yahoo
Marvel Rivals Was Reportedly Almost Canceled Over Licensing Fees In Last-Minute Pivot That Cost Millions
Marvel Rivals has been a huge hit for NetEase. The Chinese publisher recently reported the free-to-play hero shooter had over 40 million players. But the Overwatch clone was almost canceled over the licensing fees the company would owe to Disney for using its popular comic book characters. That's according to a new report by Bloomberg that details some of the 'volatility' at the gaming giant over the last year. Per the report, NetEase founder and CEO William Ding almost ditched the project because he 'objected to paying Walt Disney Co. for the use of popular characters like Wolverine and Spider-Man.' Apparently, he even went so far as to have the game's developers swap in their own hero designs at some point in a temporary pivot that ultimately cost millions in unused work, though NetEase disputes that characterization. A spokesperson for the company told Bloomberg that it has enjoyed a 'close partnership' with Marvel since 2017. The reported tumult on Marvel Rivals prior to launch shows just how different things could have been. While the underlying game is fun, it's hard to say whether its familiar multiplayer gameplay would have hit the same way if not for the flashy designs for household icons from The X-Men to The Incredible Hulk. Of course, it's also well-documented just how expensive licensing deals can be with Disney. Materials leaked in the malicious Insomniac Games hack in 2023 pointed to the potentially hundreds of millions the studio would owe Disney across the sale of multiple X-Men games planned in the years ahead. Last fall, Microsoft Gaming CEO Phil Spencer told Game File he's 'not the biggest fan' of licensing deals, partially because of the issues it can create for putting games on streaming services or preserving their availability long-term. Whatever friction there may have been during Marvel Rivals' development ultimately didn't keep the game from coming out, although it's reportedly a part of a broader shift within NetEase, as the company pulls back on gaming investments. That includes the shocking layoffs of Marvel Rivals' developers earlier this week, when the entirety of the Seattle-based portion of the team was let go (the 'core' team remains in China). . For the latest news, Facebook, Twitter and Instagram.
Bloomberg
21-02-2025
- Business
- Bloomberg
NetEase's Billionaire CEO Slashes Jobs and Games in Profit Push
After years of expanding overseas, video-game billionaire William Ding is hitting the brakes at NetEase Inc., the pioneering Chinese company behind hits like Eggy Party and its newest blockbuster Marvel Rivals. Ding, 53, who founded the company and is chief executive officer, has cut hundreds of jobs, closed or idled game studios and pulled back on international investment as he refocuses on a smaller portfolio of titles. He reasserted his leadership with a series of dramatic decisions over the past year, according to people familiar with the company's inner workings who asked to not be identified.
