NetEase Inc (ADR) (NASDAQ: NTES) in the first quarter of FY 17 has reported 72.3% growth in the total net revenues of RMB13.6 billion (US$2.0 billion) compared with the same period last year. The net revenues for online games grew 78.5% to RMB10.7 billion (US$1.6 billion), compared to the same period last year. The advertising services net revenues grew 13.2% to RMB445.2 million (US$64.7 million) and E-mail, e-commerce and others net revenues grew 63.2% to RMB2.5 billion (US$357.4 million) in the 1Q 2017. NetEase has reported the 63.2% growth in the gross profit to RMB7.5 billion (US$1.1 billion) year-over-year. Furthermore, the adjusted net income attributable to the NTES’s shareholders was RMB4.3 billion (US$630.0 million), which is a growth of 62.6% compared with the first quarter of 2016.

Moreover, NetEase latest blockbuster title, Onmyoji has garnered over 200 million downloads worldwide and has ranked Best Mobile Game 2016, along with Pokemon Go and Clash Royale in the Games of the Year rankings by Facebook, Onmyoji. The international PC version of Onmyoji in traditional Chinese has made its debut on Facebook Gameroom in the recent FBF8 conference. Further, the all-time blockbuster mobile game favorites such as Fantasy Westward Journey, Ghost, and Westward Journey has continued their popularity and ranked among the top 10 highest grossing mobile games in China’s iOS App Store. In addition, Netease Games has announced the release of Minecraft’s Chinese closed beta at Beijing’s massive water cube. The company has also released new mobile games including Land of Glory, Mist World, and Demon Seals, all of which had excellent reception.

Additionally, NetEase has continued to accelerate its international expansion by creating new immersive and global gameplay experiences. In addition to the existing titles such as Tome of the Sun, Eternal Arena, and Twilight Pioneers on the Google VR platform. In January, NetEase has released Immortal Conquest, which is a MMO strategy war game, in which the players build and manage their own cities, expand on over 2 million pieces of land, and align with other players to conquer the world. In February, NTES’s self-developed PC game Revelation was released in Europe and the U.S., and is a Chinese mythical fantasy game with CG-like in-game graphics. In addition, the latest title Crusaders of Light delivers an authentic PC-quality MMORPG experience for mobile phones and tablets, within a stunning and open 3D fantasy world filled with luscious landscapes, treacherous dungeons, and coveted loot. The game is now in soft launch in limited countries while the international launch is coming soon over the summer

NetEase stock has risen 91.7% in the last one year (as of 12:08PM EDT; Source: Google Finance). According to tipranks.com, NetEase has an average price target of $314, which is a further upside of 12.52%.