NetEase gaming revenue rises to $3.7B as Marvel Rivals and Where Winds Meet expand globally

NetEase reported gaming revenue of RMB 25.7 billion, about $3.7 billion, for the first quarter of 2026, up 6.9% year over year. Overall revenue rose 6.1% to RMB 30.6 billion, or roughly $4.4 billion.

Online game operations made up 97.5% of the company’s gaming revenue, matching the same share from the year before. NetEase said the quarter was helped by continued sales from its own games, including Fantasy Westward Journey, Where Winds Meet, Identity V, Eggy Party, and Sword of Justice.

The company also pointed to wider global activity for Where Winds Meet and Marvel Rivals, along with its ongoing operation of Blizzard games in China. NetEase said regular updates and localized content remained part of that work, though it didn’t break out specific numbers for those titles.

CEO William Ding said the company had a “solid quarter” across its existing games and is still moving ahead with new titles. He also said recent global launches showed “strong cross-market appeal,” tying the results to NetEase’s broader international push.

The results come after NetEase confirmed in March that it would stop funding Nagoshi Studio, the developer behind Gang of Dragon. NetEase didn’t give a reason or share exit terms at the time. Bloomberg reported that sources said the decision followed an estimate that at least ¥7 billion, around $44.4 million, would be needed to finish the studio’s debut game.