Chinese game publisher NetEase (NTES) has been directed to divest its overseas holdings, starting with hit game Marvel Rivals, which laid off its Seattle team, VentureBeat’s N. Evan Van Zelfden and Dean Takahashi report. According to sources, the Marvel Rivals team being fired “is just the start,” and that it is possible that NetEase plans to exit all international investments and holdings.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NTES:
- NetEase reports Q4 EPS $2.07
- “Marvel Rivals” Drives NetEase (NTES) to Quarterly Profit Beat as Revenues Slip
- Marvel Rivals Layoffs Spook NetEase Investors Despite New Character Trailers
- Netease (NTES) Q4 Earnings Cheat Sheet
- NetEase’s Marvel Rivals Will Skip the Nintendo Switch But Might Release on the Switch 2