Editorial Summary

NetEase (Nasdaq: NTES) booked revenue of $93 million, compared to $88.7 million last quarter and $79.1 million in the year-ago period, for the first quarter of 2008. Online game revenue was up sequentially from $72.3 million and annually from $68.7 million to $79.3 million, while advertising revenue came in at $11 million, compared to $14 million in the last quarter and $8 million last year.

Net profit sank to $38.4 million, from $55.6 million in the fourth quarter of 2007 and $43 million a year ago. The company attributes declining profits to an increase in tax charges.