“Marvel Rivals” maker NetEase sinks on disappointing earnings

Shares of “Marvel Rivals” maker NetEase sank Thursday morning after the Chinese gaming giant reported its second-quarter earnings.

NetEase posted earnings of $1.87 per ADS, shy of analyst expectations of $1.90. Sales also disappointed at $3.89 billion versus the $3.96 billion consensus estimate from FactSet.

Sales in the company’s games division climbed nearly 14% year over year to $3.18 billion, though Wall Street expected $3.25 billion.

Lately, players have become frustrated with matchmaking in some major live service games including “Marvel Rivals,” accusing companies like NetEase of organizing matches not by skill level but in a way focused on maximizing engagement and spending.

NetEase has pulled back on global gaming investment this year, pivoting away from developing titles outside of China.

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